Published on 8/9/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.38 million contingent interest autocalls on Russell, Nasdaq, Dow
By Kiku Steinfeld
Chicago, Aug. 9 – JPMorgan Chase Financial Co. LLC priced $3.38 million of autocallable contingent interest notes due Jan. 19, 2024 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, 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 monthly coupon at an annual rate of 4% if each index closes at or above its interest barrier level, 80% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first, second, third, fourth, fifth and final dates.
The payout at maturity will be par unless any index 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $3,376,000
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Maturity: | Jan. 19, 2024
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Coupon: | 4% annualized, payable monthly if each index 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 index finishes below trigger level, in which case 1% loss for each 1% decline of least performing index from initial level
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Call: | At par plus contingent coupon if each index closes at or above initial level on any monthly review date other than first, second, third, fourth, fifth and final dates
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Initial levels: | 14,681.38 for Nasdaq, 2,163.238 for Russell, 34,687.85 for Dow
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Interest barrier: | 11,745.104 for Nasdaq, 1,730.5904 for Russell, 27,750.28 for Dow; 80% of initial levels
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Trigger levels: | 10,276.966 for Nasdaq, 1,514.2666 for Russell, 24,281.495 for Dow; 70% of initial levels
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Pricing date: | July 16
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Settlement date: | July 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.42336%
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Cusip: | 48132UXY4
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