Published on 11/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.96 million autocallable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Nov. 17 – JPMorgan Chase Financial Co. LLC priced $4.96 million of autocallable contingent interest notes due May 15, 2023 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the iShares Russell 2000 Value ETF, 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 9.5% if each underlier closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date other than the final.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 70% trigger level during the life of the notes and any underlier 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 assets: | S&P 500 index, Nasdaq-100 index, iShares Russell 2000 Value ETF
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Amount: | $4,959,000
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Maturity: | May 15, 2023
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Coupon: | 9.5% annual rate, payable quarterly if each underlier closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | Par unless any underlier closes below its trigger level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date other than the final
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Initial levels: | $173.90 for ETF, 15,985.57 for Nasdaq, 4,646.71 for S&P
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Interest barrier: | $121.73 for ETF, 11,189.899 for Nasdaq, 3,252.697 for S&P; 70% of initial levels
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Trigger levels: | $121.73 for ETF, 11,189.899 for Nasdaq, 3,252.697 for S&P; 70% of initial levels
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Pricing date: | Nov. 10
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Settlement date: | Nov. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.725%
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Cusip: | 48132YSB2
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