Published on 2/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.27 million autocallable barrier notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $1.27 million of 0% autocallable barrier notes due Feb. 10, 2026 linked to the iShares MSCI EAFE ETF, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 12% premium if all assets finish above their initial levels on any quarterly observation date after one year.
If the notes are not called and all assets close above their initial levels, the payout at maturity will be par plus the return of the least performing asset.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing asset.
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 barrier notes
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| Underlying assets: | iShares MSCI EAFE ETF, Euro Stoxx 50 index and Russell 2000 index
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| Amount: | $1,268,000
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| Maturity: | Feb. 10, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all assets finish positive, par plus return of worst performer; par if at least one asset declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing asset
|
| Call: | At par plus annualized premium of 8.5% if each asset finishes above initial level on any quarterly observation date after one year
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| Initial levels: | $74.71 for ETF, 2,233.327 for Russell, 3,655.77 for Stoxx
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| Trigger levels: | $52.297 for ETF, 1,563.3289 for Russell, 2,559.039 for Stoxx, 70% of initial levels
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| Pricing date: | Feb. 5
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| Settlement date: | Feb. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.125%
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| Cusip: | 48132RXL9
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