Published on 3/13/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.85 million contingent interest autocalls on indexes, ETF
By Sarah Lizee
Olympia, Wash., March 13 – JPMorgan Chase Financial Co. LLC priced $2.85 million of autocallable contingent interest notes due March 7, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 11.58% per year if each asset closes at or above its interest barrier, 75% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any asset finishes below its trigger level, 65% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset declines.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Nasdaq-100 index, the Russell 2000 index and the SPDR S&P Biotech ETF
|
| Amount: | $2,845,000
|
| Maturity: | March 7, 2024
|
| Coupon: | 11.58% per year, payable quarterly if each asset closes at or above interest barrier on review date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below trigger level, in which case investors will lose 1% for every 1% that the least-performing asset declines
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 1,531.197 for Russell, 8,949.28 for Nasdaq, $94.30 for ETF
|
| Interest barriers: | 1,148.39775 for Russell, 6,711.96 for Nasdaq, $70.725 for ETF; 75% of initial levels
|
| Trigger values: | 995.27805 for Russell, 5,817.032 for Nasdaq, $61.295 for ETF; 65% of initial levels
|
| Pricing date: | March 4
|
| Settlement date: | March 9
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132KCZ6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
