Published on 2/5/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.12 million contingent interest autocalls on Nasdaq, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $4.12 million of autocallable contingent interest notes due Aug. 3, 2022 tied to the least performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9.25% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically 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 and final review dates.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and any index ever closes below its final barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Russell 2000 index, Nasdaq-100index and S&P 500 index
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| Amount: | $4,119,000
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| Maturity: | Aug. 3, 2022
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| Coupon: | 9.25% per year, payable monthly if each index closes at or above interest barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below its barrier level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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| Call: | Automatically 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 and final review dates
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| Initial index levels: | 12,925.38 for Nasdaq, 2,073.641 for Russell, 3,714.24 for S&P
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| Barrier levels: | 9,047.766 for Nasdaq, 1,451.5487 for Russell, 2,599.968 for S&P; 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.54984%
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| Cusip: | 48132RLW8
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