Published on 10/3/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.58 million contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, Oct. 4 – JPMorgan Chase Financial Co. LLC priced $3.58 million of autocallable contingent interest notes due Sept. 20, 2024 linked to the least performing of the shares of Nvidia Corp., Moderna, Inc. and Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 14% if each stock closes at or above its 60% coupon barrier on the review date for that month.
The notes will be called at par if each stock closes at or above its initial level on any quarterly autocall review date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Nvidia Corp., Moderna, Inc. and Bank of America Corp.
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| Amount: | $3,583,000
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| Maturity: | Sept. 20, 2024
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| Coupon: | 14% annualized, payable monthly if each stock closes at or above 60% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on quarterly autocall review date
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| Initial levels: | $40.50 for BofA, $219 for Nvidia, $430.05 for Moderna
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| Coupon barriers: | $24.30 for BofA, $131.40 for Nvidia, $258.03 for Moderna; 60% of initial levels
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| Triggers: | $24.30 for BofA, $131.40 for Nvidia, $258.03 for Moderna; 60% of initial levels
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| Pricing date: | Sept. 17
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| Settlement date: | Sept. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132WPL7
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