Published on 4/1/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $10.5 million autocallable return enhanced notes linked to indexes
By Wendy Van Sickle
Columbus, Ohio, April 1 – JPMorgan Chase Financial Co. LLC priced $10.5 million of 0% autocallable return enhanced notes due April 1, 2024 linked to the least performing of the PHLX Semiconductor Sector index, the Nasdaq-100 index and the Nasdaq-100 Technology Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus a 15% call premium if the closing level of the least performing index is greater than or equal to the call level, 100% of the initial level, on March 29, 2022.
If the final level of the least performing index is greater than the initial level, the payout at maturity will be par plus 2.3 times that index’s return. Otherwise, investors will be fully exposed to the decline in the least performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable return enhanced notes
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| Underlying indexes: | PHLX Semiconductor Sector index, Nasdaq-100 index and Nasdaq-100 Technology Sector index
|
| Amount: | $10.5 million
|
| Maturity: | April 1, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of the least performing index is greater than initial level, par plus 2.3 times that index’s return; otherwise, full exposure to decline in least performing index
|
| Call: | Automatically at $1,150 per $1,000 principal amount if closing level of the least performing index is greater than or equal to call level, 100% of initial level, on March 29, 2022
|
| Initial levels: | 3,106.278 for PHLX, 12,979.12 for Nasdaq-100 and 7,810.72 for Nasdaq-100 Technology
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| Pricing date: | March 26
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| Settlement date: | March 31
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.75%
|
| Cusip: | 48132TKN5
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