Published on 10/18/2019 in the Prospect News Structured Products Daily.
New Issue: JPMorgan Stanley prices $1.69 million contingent income autocallables linked to indexes
By Angela McDaniels
Tacoma, Wash., Oct. 18 – JPMorgan Chase Financial Co. LLC priced $1.69 million of contingent income autocallable securities due Oct. 21, 2020 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 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 8.5% per year if each index closes at or above its downside threshold level, 75% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly determination date other than the final determination date.
The payout at maturity will be par unless any index finishes below its downside threshold level, in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $1,692,000
|
| Maturity: | Oct. 21, 2020
|
| Coupon: | 7.1% per year, payable quarterly if each index closes at or above downside threshold on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold level, in which case exposure to decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any determination date other than final determination date
|
| Initial levels: | 7,920.209 for Nasdaq-100, 1,525.057 for Russell 2000 and 2,989.69 for S&P 500
|
| Downside thresholds: | 5,940.15675 for Nasdaq-100, 1,143.79275 for Russell 2000 and 2,242.2675 for S&P 500, or 75% of initial levels
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 1.75%
|
| Cusip: | 48132FUV6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
