Published on 6/14/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, June 14 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Nov. 23, 2022 tied to the least performing of the Euro Stoxx Banks index, the Nasdaq-100 index and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 10.5% per year if each asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par if each asset closes at or above its initial level on any monthly review date after three months.
If the notes have not been called, the payout at maturity will be par unless any asset below its initial level and any asset has closed below its barrier level, 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level.
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: | Euro Stoxx Banks index, Nasdaq-100 index and iShares Russell 2000 ETF
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| Amount: | $500,000
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| Maturity: | Nov. 23, 2022
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| Coupon: | 10.5% per year, payable monthly if each asset closes at or above interest barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset has closed below its barrier level, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level
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| Call: | Automatically at par if each asset closes at or above its initial level on any monthly auto call review date after three months
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| Initial asset levels: | 13,217.68 for Nasdaq, $219.64 for ETF, 97.67 for Stoxx
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| Coupon barrier levels: | 9,252.376 for Nasdaq, $153.748 for ETF, 68.369 for Stoxx; 70% of initial levels
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| Barrier levels: | 7,930.608 for Nasdaq, $131.784 for ETF, 58.602 for Stoxx; 60% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132TW93
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