Published on 6/23/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $818,000 autocallable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., June 23 – JPMorgan Chase Financial Co. LLC priced $818,000 of autocallable contingent interest notes due Nov. 17, 2022 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 9.4% if each underlying closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any monthly review date other than the first, second and final review dates.
The payout at maturity will be par plus the final coupon unless any underlying finishes below its 65% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Dow Jones industrial average, Nasdaq-100 index, iShares Russell 2000 ETF
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| Amount: | $818,000
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| Maturity: | Nov. 17, 2022
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| Coupon: | 9.4% annual rate, payable monthly if each underlying closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any underlying finishes below trigger level, in which case 1% loss for each 1% decline of least performing index from initial level
|
| Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial level on any monthly review date other than the first, second and final dates
|
| Initial levels: | $221.02 for ETF, 13,393.12 for Nasdaq, 34,382.13 for Dow
|
| Interest barrier: | $154.714 for ETF, 9,375.184 for Nasdaq, 24,067.491 for Dow; 70% of initial levels
|
| Trigger levels: | $143.663 for ETF, 8,705.528 for Nasdaq, 22,348.3845 for Dow; 65% of initial levels
|
| Pricing date: | May 14
|
| Settlement date: | May 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
|
| Cusip: | 48132TT48
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