Published on 12/23/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.52 million autocallable barrier notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – JPMorgan Chase Financial Co. LLC priced $1.52 million of 0% autocallable barrier notes due Dec. 17, 2026 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized call premium of 11% if all assets finish above their initial levels on any annual observation date.
If the notes are not called and all assets close above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index.
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 barrier notes
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| Underlying assets: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,516,000
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| Maturity: | Dec. 17, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all assets finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes at or above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
|
| Call: | At par plus an annualized call premium of 11% if each index finishes at or above its initial level on any annual observation date
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| Initial index levels: | 35,554.18 for Dow, 4,634.09 for S&P, 15,914.9for Nasdaq
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| Barrier levels: | 24,880.926 for Dow, 3,243.863 for S&P, 11,140.43 for Nasdaq, 70% of initial levels
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.11634%
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| Cusip: | 48132YW50
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