Published on 2/23/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $951,000 contingent interest autocalls on Dow, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Feb. 23 – JPMorgan Chase Financial Co. LLC priced $951,000 of autocallable contingent interest notes due Aug. 10, 2022 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 9.3% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 70% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and S&P 500 index
|
| Amount: | $951,000
|
| Maturity: | Aug. 10, 2022
|
| Coupon: | 9.3% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of least performing index from initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final date
|
| Initial levels: | 3,886.83 for S&P, 31,148.24 for Dow and 2,233.327 for Russell
|
| Interest barrier: | 2,720.781 for S&P, 21,803.768 for Dow and 1,563.3289 for Russell; 70% of initial levels
|
| Trigger levels: | 2,720.781 for S&P, 21,803.768 for Dow and 1,563.3289 for Russell; 70% of initial levels
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.65757%
|
| Cusip: | 48132RRX0
|
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