Published on 3/28/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 contingent interest notes on Nasdaq, S&P, Russell
Chicago, March 29 – JPMorgan Chase Financial Co. LLC priced $500,000 of contingent interest notes due Sept. 7, 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 7% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
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: | 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: | $500,000
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Maturity: | Sept. 7, 2022
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Coupon: | 7% 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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Initial levels: | 3,901.82 for S&P, 13,282.95 for Nasdaq and 2,275.321 for Russell
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Interest barrier: | 2,731.274 for S&P, 9,298.065 for Nasdaq and 1,592.7247 for Russell; 70% of initial levels
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Trigger levels: | 2,731.274 for S&P, 9,298.065 for Nasdaq and 1,592.7247 for Russell; 70% of initial levels
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Pricing date: | March 1
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Settlement date: | March 4
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.65%
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Cusip: | 48132RE63
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