Published on 12/24/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $713,000 contingent interest autocalls on indexes, ETF
By Sarah Lizee
Olympia, Wash., Dec. 24 – JPMorgan Chase Financial Co. LLC priced $713,000 of autocallable contingent interest notes due March 15, 2021 linked to the least performing of the Dow Jones industrial average, the iShares MSCI Emerging Markets ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 6.4% per year if each asset closes at or above its interest barrier, 70% 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 initial level and any asset has ever closed below its trigger level, 70% of its initial level, on any day during the life of the notes, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Dow Jones industrial average, iShares MSCI Emerging Markets ETF and Russell 2000 index
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| Amount: | $713,000
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| Maturity: | March 15, 2021
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| Coupon: | 6.4% per year, payable quarterly if each asset closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset has ever closed below its trigger level, 70% of its initial level, on any day during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing asset declines
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| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly review date other than the final one
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| Initial levels: | 27,881.72 for Dow, $43.05 for ETF and 1,631.714 for Russell
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| Interest barriers: | 19,517.204 for Dow, $30.135 for ETF and 1,142.1998 for Russell; 70% of initial levels
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| Trigger values: | 19,517.204 for Dow, $30.135 for ETF and 1,142.1998 for Russell; 70% of initial levels
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| Pricing date: | Dec. 10
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| Settlement date: | Dec. 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132HGD8
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