Published on 6/2/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.5 million contingent interest autocalls on S&P, Nasdaq, Russell ETF
By Wendy Van Sickle
Columbus, Ohio, June 2 – JPMorgan Chase Financial Co. LLC priced $1.5 million of autocallable contingent interest notes due Nov. 10. 2022 tied to the least performing of the iShares Russell 2000 ETF, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8.5% per year if each asset closes at or above its interest barrier level, 65% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any monthly review date other than the first, second and final review dates.
If the notes have not been called, the payout at maturity will be par unless any asset finishes below its initial level and any asset has ever closed below its trigger level, 65% 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: | iShares Russell 2000 ETF, S&P 500 index and Nasdaq-100 index
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| Amount: | $1,503,000
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| Maturity: | Nov. 10. 2022
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| Coupon: | 8.5% per year, payable monthly if each asset closes at or above interest barrier level on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset has ever closed below trigger 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 plus the contingent coupon if each asset closes at or above its initial level on any monthly review date other than the first, second and final review dates
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| Initial levels: | 4,167.59 for S&P, 13,7503.37 for Nasdaq and $222.40 for Russell
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| Interest barriers: | 2,708.9335 for S&P, 8,777.1905 for Nasdaq and $144.56 for Russell; 65% of initial levels
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| Triggers: | 2,708.9335 for S&P, 8,777.1905 for Nasdaq and $144.56 for Russell; 65% of initial levels
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| Pricing date: | May 5
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| Settlement date: | May 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.71252%
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| Cusip: | 48132TE69
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