Published on 11/5/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $165,000 contingent interest autocallables linked to stocks
By Sarah Lizee
Olympia, Wash., Nov. 5 – JPMorgan Chase Financial Co. LLC priced $165,000 of autocallable contingent interest notes due April 30, 2021 linked to the least performing of the common stocks of Goldman Sachs Group, Inc., Prudential Financial, Inc. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.4% per year if each stock closes at or above its trigger value, 60% of its initial share price, on the review date for that quarter. Investors will also receive any previously unpaid coupons.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price, on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any stock finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing stock finishes below its initial share price.
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 stocks: | Goldman Sachs Group, Inc., Prudential Financial, Inc. and PayPal Holdings, Inc.
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| Amount: | $165,000
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| Maturity: | April 30, 2021
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| Coupon: | 10.4% per year, payable quarterly if each stock closes at or above trigger value on review date for that quarter; investors will also receive any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger value, in which case 1% loss for every 1% that least-performing stock finishes below initial share price
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| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial share price on any quarterly review date other than final one
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| Initial share prices: | $214.23 for Goldman, $91.75 for Prudential, $107.19 for PayPal
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| Trigger values: | $128.538 for Goldman, $55.05 for Prudential, $64.314 for PayPal, or 60% of initial share prices
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| Pricing date: | Oct. 28
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| Settlement date: | Oct. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132F3E4
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