Published on 3/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million autocallable yield notes on Nasdaq, Dow, Russell
By Kiku Steinfeld
Chicago, March 22 – JPMorgan Chase Financial Co. LLC priced $1 million of 10% autocallable yield notes due March 8, 2022 linked to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average 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.
The notes will be called at par if each index closes at or above its initial level on any monthly review date other than the final date.
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, Dow Jones industrial average and the Russell 2000 index
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| Amount: | $1 million
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| Maturity: | March 8, 2022
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| Coupon: | 10%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index ever closes below trigger level during life of notes and any index finishes below its initial level, in which case full exposure to decline of worst performing index
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| Call: | At par if each index closes at or above initial level on any monthly review date other than final date
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| Initial levels: | 31,270.09 for Dow, 2,207.793 for Russell, 12,683.33 for Nasdaq
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| Trigger levels: | 21,889.063 for Dow, 1,545.4551 for Russell, 8,878.331 for Nasdaq; 70% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48132RY38
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