Published on 4/4/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.52 million review notes on MSCI EAFE index, banking ETF
By William Gullotti
Buffalo, N.Y., April 4 – JPMorgan Chase Financial Co. LLC priced $2.52 million of 0% review notes due May 2, 2024 linked to the lesser performing of the MSCI EAFE index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus a premium of 8.35% per year if each underlying closes at or above initial levels on the first annual review date, 95% of initial levels for the second and 90% of initial levels for the final.
If the notes are not called and each underlying finishes at or above 70% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for each 1% decline of the lesser performer below its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlying assets: | MSCI EAFE index, SPDR S&P Regional Banking ETF
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| Amount: | $2,515,000
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| Maturity: | May 2, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par unless either underlier finishes below trigger value, in which case full exposure to decline of worse performer
|
| Call: | At par plus a premium of 8.35% per year if each underlying closes at or above initial value on the first annual review date, 95% of initial value the second, 90% of initial level the final
|
| Initial values: | 2,291.95 for index, $69.33 for ETF
|
| Trigger values: | 1,604.365 for index, $48.531 for ETF; 70% of initial values
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| Pricing date: | April 29, 2021
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| Settlement date: | May 4, 2021
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.25%
|
| Cusip: | 48132T2S4
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