Published on 4/18/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $350,000 autocallable yield notes on ARK Innovation, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, April 19 – JPMorgan Chase Financial Co. LLC priced $350,000 of 9.4% autocallable yield notes due July 6, 2022 linked to the worst performing of the ARK Innovation ETF, the S&P 500 index and the Dow Jones industrial average, 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 asset closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par unless any asset closes below its trigger level, 55% of its initial level, on any day during the life of the notes and any asset finishes below its initial level, in which case investors will be fully exposed to the decline of the least performing asset.
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 assetes: | ARK Innovation ETF, S&P 500 index and the Dow Jones industrial average
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| Amount: | $350,000
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| Maturity: | July 6, 2022
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| Coupon: | 9.4%, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any asset ever closes below trigger level during life of notes and any asset finishes below its initial level, in which case full exposure to decline of worst performing asset
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| Call: | At par if each asset closes at or above initial level on any quarterly review date after six months
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| Initial levels: | 3,958.55 for S&P, 33,066.96 for Dow, $114.42 for ETF
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| Trigger levels: | 2,177.2025 for S&P, 18,186.828 for Dow, $62.931 for ETF; 55% of initial levels
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| Pricing date: | March 30
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| Settlement date: | April 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48132TMP8
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