Published on 1/10/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.25 million autocallable barrier notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Jan. 11 – JPMorgan Chase Financial Co. LLC priced $2.25 million of 0% autocallable barrier notes due Jan. 5, 2026 linked to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at par plus a 12.75% yearly premium if each index closes above 102% of its initial level on any of four annual review dates.
If the notes are not called and each index finishes above its initial level, the payout at maturity will be par plus the return of the least-performing index. Investors will receive par if any index finishes at or below its initial level but the final level of each index is at least 65% of its initial level. 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.
|
| Issue: | Autocallable barrier notes
|
| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
|
| Amount: | $2,247,000
|
| Maturity: | Jan. 5, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes above initial level, par plus return of least-performing index; if any index finishes at or below initial level but each index finishes at or above barrier level, par; otherwise, full exposure to decline of least-performing index
|
| Call: | At par plus 12.75% yearly if each index closes above 102% of its initial level on Jan. 4, 2022, Dec. 30, 2022, Jan. 2, 2024 or Dec. 30, 2024
|
| Initial levels: | 1,979.992 for Russell, 3,732.04 for S&P and 12,845.36 for Nasdaq
|
| Coupon barrier levels: | 1,286.9948 for Russell, 2,425.826 for S&P and 8,349.484 for Nasdaq, 65% of initial levels
|
| Barrier levels: | 1,286.9948 for Russell, 2,425.826 for S&P and 8,349.484 for Nasdaq, 65% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.5%
|
| Cusip: | 48132RAW0
|
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