Published on 6/1/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $322,000 autocallable contingent interest notes on Dow, S&P, Russell
By Kiku Steinfeld
Chicago, June 1 – JPMorgan Chase Financial Co. LLC priced $322,000 of autocallable contingent interest notes due March 2, 2023 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 8.25% if each index closes at or above its 70% interest barrier on the related monthly review date.
After six months, the notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the final date.
The payout at maturity will be par unless any index finishes below its 70% trigger level, in which case investors will be fully exposed to any losses of the worst performing index.
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 indexes: | Dow Jones industrial average, Russell 2000 and S&P 500
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| Amount: | $322,000
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| Maturity: | March 2, 2023
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| Coupon: | 8.25%, payable each month that each index closes at or above its coupon barrier on the related monthly review date
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger level, in which case investors will be fully exposed to any losses of the worst performing index
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| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date after six months other than the final date
|
| Initial levels: | 25,548.27 for Dow, 1,436.358 for Russell and 3,036.13 for S&P
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| Coupon barriers: | 17,883.789 for Dow, 1,005.4506 for Russell and 2,125.291 for S&P; 70% of initial levels
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| Trigger levels: | 17,883.789 for Dow, 1,005.4506 for Russell and 2,125.291 for S&P; 70% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.40683%
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| Cusip: | 48132KX75
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