Published on 8/21/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $626,000 autocallable yield notes on three stocks
By Sarah Lizee
Olympia, Wash., Aug. 21 – JPMorgan Chase Financial Co. LLC priced $626,000 of 9% autocallable yield notes due Aug. 23, 2023 linked to the worst performing of the common stocks of DuPont de Nemours, Inc., Centene Corp. and MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable monthly.
After six months, the notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial level, in which case investors will be fully exposed to the decline of the least performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | DuPont de Nemours, Inc., Centene Corp. and MetLife, Inc.
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| Amount: | $626,000
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| Maturity: | Aug. 23, 2023
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| Coupon: | 9%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its trigger level, in which case full exposure to decline of worst performing stock
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| Call: | After six months, at par if each stock closes at or above its initial level on any quarterly review date other than the final date
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| Initial levels: | $57.00 for DuPont, $63.14 for Centene, $38.31 for MetLife
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| Trigger levels: | $28.50 for DuPont, $31.57 for Centene, $19.155 for MetLife; 50% of initial levels
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132M2Y6
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