Published on 9/29/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $900,000 contingent interest autocalls on Ford, GM, Tesla
By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $900,000 of autocallable contingent interest notes due July 12, 2023 linked to the least performing of the shares of Ford Motor Co., General Motors Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 17.45% if each stock closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par if each stock closes at or above its initial level on any monthly autocall review date other than the first, second and final dates.
The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 contingent interest notes
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| Underlying assets: | Ford Motor Co., General Motors Co. and Tesla, Inc.
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| Amount: | $900,000
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| Maturity: | July 12, 2023
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| Coupon: | 17.45% annualized, payable monthly if each stock closes at or above 70% coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 50% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on monthly autocall review date other than the first, second and final dates
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| Initial levels: | $644.65 for Tesla, $56.59 for General Motors, $14.23 for Ford
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| Coupon barriers: | $451.255 for Tesla, $39.613 for General Motors, $9.961 for Ford; 70% of initial levels
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| Triggers: | $322.325 for Tesla, $28.295 for General Motors, $7.115 for Ford; 50% of initial levels
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| Pricing date: | July 7
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| Settlement date: | July 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48132UUJ0
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