Published on 9/16/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.56 million autocallable barrier notes on S&P, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., Sept. 16 – JPMorgan Chase Financial Co. LLC priced $1.56 million of 0% autocallable barrier notes due June 28, 2024 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus an annualized 6% call premium if all indexes finish above their initial levels on any semiannual call date.
If the notes are not called and all indexes close above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,563,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
|
| Call: | At par plus annualized premium of 6% if each index finishes above initial level on any semiannual call date
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| Initial levels: | 4,280.7 for S&P, 14,345.18 for Nasdaq, 2,334.396 for Russell
|
| Barrier levels: | 2,996.49 for S&P, 10,041.626 for Nasdaq, 1,634.0772 for Russell; 70% of initial levels
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| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
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| Cusip: | 48132UGM9
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