Published on 12/9/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.16 million contingent interest autocalls on S&P, Russell, Dow
By William Gullotti
Buffalo, N.Y., Dec. 9 – JPMorgan Chase Financial Co. LLC priced $6.16 million of autocallable contingent interest notes due June 8, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, 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 quarterly coupon at an annual rate of 8.8% if each index closes at or above its interest barrier level, 75% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 75% trigger level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
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 indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $6,155,000
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| Maturity: | June 8, 2023
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| Coupon: | 8.8% annual rate, payable quarterly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the first and final ones
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| Initial levels: | 34,580.08 for Dow, 4,538.43 for S&P, 2,159.31 for Russell
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| Interest barrier: | 25,935.06 for Dow, 3,403.8225 for S&P, 1,619.4825 for Russell; 75% of initial levels
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| Trigger levels: | 25,935.06 for Dow, 3,403.8225 for S&P, 1,619.4825 for Russell; 75% of initial levels
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| Pricing date: | Dec. 3
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| Settlement date: | Dec. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132Y2H7
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