Published on 7/14/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.04 million autocallable contingent interest notes on index, ETF
By William Gullotti
Buffalo, N.Y., July 14 – JPMorgan Chase Financial Co. LLC priced $1.04 million of autocallable contingent interest notes due May 31, 2024 linked to the performance of the Euro Stoxx 50 index and the VanEck Vectors Gold Miners 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% if each underlying 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 underlying closes at or above its initial level on any quarterly review date other than the first and final review dates.
The payout at maturity will be par plus the final coupon unless any underlying finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Euro Stoxx 50 index, VanEck Vectors Gold Miners ETF
|
| Amount: | $1,040,000
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| Maturity: | May 31, 2024
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| Coupon: | 9% annual rate, payable quarterly if each underlying closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any underlying finishes below trigger level, in which case 1% loss for each 1% decline of the least performing underlier from initial level
|
| Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial level on any quarterly review date other than the first and final dates
|
| Initial levels: | $39.46 for ETF, 4,031.67 for Stoxx
|
| Interest barrier: | $27.622 for ETF, 2,822.169 for Stoxx; 70% of initial levels
|
| Trigger levels: | $27.622 for ETF, 2,822.169 for Stoxx; 70% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 28
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 48132UDZ3
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