Published on 10/23/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $270,000 contingent interest autocalls on stocks
By Sarah Lizee
Olympia, Wash., Oct. 23 – JPMorgan Chase Financial Co. LLC priced $270,000 of autocallable contingent interest notes due April 22, 2021 linked to the least performing of the common stocks of MetLife, Inc., Stanley Black & Decker, Inc. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 12.8% per year if each stock closes at or above its interest barrier, 55% of its initial share price, on the review date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly review date other than the final date.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger level, 55% of its initial level, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | MetLife, Inc., Stanley Black & Decker, Inc. and Qualcomm Inc.
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| Amount: | $270,000
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| Maturity: | April 22, 2021
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| Coupon: | 12.8% per year, payable quarterly if each stock closes at or above interest barrier value on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock finishes at or above trigger value; otherwise, exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial price on any review date other than final date
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| Initial share prices: | $46.10 for MetLife, $149.89 for Stanley, $77.68 for Qualcomm
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| Coupon barriers: | $25.355 for MetLife, $82.4395 for Stanley, $42.724 for Qualcomm; 55% of initial share prices
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| Trigger levels: | $25.355 for MetLife, $82.4395 for Stanley, $42.724 for Qualcomm; 55% of initial share prices
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.5%
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| Cusip: | 48132FZF6
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