Published on 3/29/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.05 million contingent interest autocalls on Nasdaq, S&P, Russell
By Kiku Steinfeld
Chicago, March 29 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due Sept. 9, 2022 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 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 13% per year if each index closes at or above its interest barrier level, 75% of its initial level, on each day of that month.
The notes will be automatically called at par if each index 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 index finishes below its initial level and any index ever finishes below its final barrier level, 65% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
|
| Amount: | $1,050,000
|
| Maturity: | Sept. 9, 2022
|
| Coupon: | 13% per year, payable monthly if each index closes at or above interest barrier level on each day of month
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its initial level and any index ever finishes below its final barrier level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par if each index closes at or above its initial level on any monthly review date other than the first, second and final review dates
|
| Initial index levels: | 2,192.212 for Russell, 3,841.94 for S&P, 12,668.51 for Nasdaq
|
| Coupon barrier levels: | 1,644.159 for Russell, 2,881.455 for S&P, 9,501.3825 for Nasdaq; 75% of initial levels
|
| Barrier levels: | 1,424.9378 for Russell, 2,497.261 for S&P, 8,234.5315 for Nasdaq; 65% of initial levels
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35%
|
| Cusip: | 48132RY46
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
