Published on 3/24/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.99 million autocallable contingent interest notes on Nasdaq, S&P, Russell
By Taylor Fox
New York, March 24 – JPMorgan Chase Financial Co. LLC priced $6.99 million of autocallable contingent interest notes due June 16, 2022 linked to the least performing of the Nasdaq-100 index, 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 13.3% 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 review 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
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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-100 index and S&P 500 index
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Amount: | $6,989,000
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Maturity: | June 16, 2022
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Coupon: | 13.3% annualized, payable quarterly if each index closes at or above interest barrier level on review date for that period
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Price: | Par
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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
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Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date except the final one
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Initial levels: | 3,943.34 for S&P, 12,937.29 for Nasdaq and 2,352.789 for Russell
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Interest barrier: | 2,760.338 for S&P, 9,056.103 for Nasdaq and 1,646.9523 for Russell; 70% of initial levels
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Trigger levels: | 2,760.338 for S&P, 9,056.103 for Nasdaq and 1,646.9523 for Russell; 70% of initial levels
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Pricing date: | March 12
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Settlement date: | March 17
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.725%
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Cusip: | 48132RY53
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