Published on 4/1/2020 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $700,000 autocallable yield notes on three indexes
By Sarah Lizee
Olympia, Wash., April 1 – JPMorgan Chase Financial Co. LLC priced $700,000 of 18.5% autocallable yield notes due June 29, 2021 linked to the worst performing of the Nasdaq-100 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable monthly.
After six months the notes will be called at par if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
If the notes are not called, the payout at maturity will be par unless any index closes below its trigger level, 70% of its initial level, on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index.
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 indexes: | Nasdaq-100 index, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $700,000
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| Maturity: | June 29, 2021
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| Coupon: | 18.5% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger level on any day during the life of the notes and any index finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing index
|
| Call: | After six months at par if each index closes at or above its initial level on any quarterly review date other than first and final dates
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| Initial levels: | 7,553.825 for Nasdaq, 1,096.555 for Russell and 2,715.11 for Stoxx
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| Trigger levels: | 5,287.6775 for Nasdaq, 767.5885 for Russell and 1,900.577 for Stoxx; 70% of initial levels
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| Pricing date: | March 24
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| Settlement date: | March 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48132KMW2
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