Published on 1/29/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.07 million contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Jan. 29 – JPMorgan Chase Financial Co. LLC priced $1.07 million of autocallable contingent interest notes due Jan. 25, 2022 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.7% per year if each asset closes at or above its interest barrier, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par if each asset closes at or above its initial level on any quarterly review date other than the final one.
If the notes have not been called, the payout at maturity will be par unless any asset finishes below its initial level and ever finishes below its trigger level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset declines.
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 contingent interest notes
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| Underlying assets: | Nasdaq-100 index, the Russell 2000 index and the SPDR S&P 500 ETF trust
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| Amount: | $1,071,000
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| Maturity: | Jan. 25, 2022
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| Coupon: | 10.7% per year, payable quarterly if each asset closes at or above interest barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and ever finishes below its trigger level, in which case investors will lose 1% for every 1% that the least-performing asset declines
|
| Call: | Automatically at par if each asset closes at or above initial level on any quarterly review date other than final one
|
| Initial levels: | 2,160.617 for Russell, 13,296.45 for Nasdaq, $383.89 for ETF
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| Interest barriers: | 1,512.4319 for Russell, 9,307.515 for Nasdaq, $268.723 for ETF; 70% of initial levels
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| Trigger values: | 1,512.4319 for Russell, 9,307.515 for Nasdaq, $268.723 for ETF; 70% of initial levels
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48132RKT6
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