Published on 9/6/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.38 million 8.25% autocallable yield notes linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Sept. 6 – JPMorgan Chase Financial Co. LLC priced $2.38 million of 8.25% autocallable yield notes due Jan. 4, 2021 linked to the lesser performing of 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 be automatically called at par if each index closes at or above its initial level on Feb. 25, 2020, May 26, 2020, Aug. 26, 2020, Nov. 24, 2020 and Feb. 23, 2021.
The payout at maturity will be par unless either index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2,381,000
|
| Maturity: | Jan. 4, 2021
|
| Coupon: | 8.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below trigger level on any day during life of notes and either index finishes below initial level, in which case 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par if each index closes at or above initial level on Feb. 25, 2020, May 26, 2020, Aug. 26, 2020, Nov. 24, 2020 and Feb. 23, 2021
|
| Initial levels: | 1,494.839 for Russell 2000 and 2,926.46 for S&P 500
|
| Trigger values: | 1,046.3873 for Russell 2000 and 2,048.522 for S&P 500, or 70% of initial levels
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4742%
|
| Cusip: | 48132CG98
|
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