Published on 10/12/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.94 million step-up review notes linked to indexes, ETF
By William Gullotti
Buffalo, N.Y., Oct. 12 – JPMorgan Chase Financial Co. LLC priced $3.94 million of 0% step-up review notes due Oct. 9, 2026 linked to the performance of the iShares Russell 2000 Value ETF, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 15.15% per year if each underlier closes at or above its call level on any semiannual call date after one year.
The call level will be 102% on the first review date, stepping up by 1% on each subsequent semiannual review date.
If the notes are not called, the payout at maturity will be par unless the final level of any underlier is less than its initial level by more than 30%, in which case investors will lose 1% for each 1% that the worst performer declines from 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: | Step-up review notes
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| Underlying assets: | Nasdaq-100 index, S&P 500 index, iShares Russell 2000 Value ETF
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| Amount: | $3,943,000
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| Maturity: | Oct. 9, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par unless the final level of any underlier is less than its initial level by more than 30%, in which case investors will lose 1% for each 1% that the worst performer declines from its initial level
|
| Call: | Automatically called at par plus a call premium of 15.15% per year if each underlier closes at or above its call level on any semiannual call date after one year; call level will be 102% on the first review date, stepping up by 1% on each subsequent semiannual review date
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| Initial levels: | $162.35 for ETF, 4,363.55 for S&P, 14,766.75 for Nasdaq
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| Trigger levels: | $113.645 for ETF, 3,054.485 for S&P, 10,336.725 for Nasdaq; 70% of initial levels
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48132W4C0
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