Published on 3/29/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.42 million autocallable contingent interest notes on Nasdaq, Dow, Russell
By Taylor Fox
New York, March 29 – JPMorgan Chase Financial Co. LLC priced $2.42 million of autocallable contingent interest notes due Dec. 20, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, 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 monthly coupon at an annual rate of 9% 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 monthly review date other than the first, second and final review dates.
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.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and Dow Jones industrial average
|
| Amount: | $2,418,000
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| Maturity: | Dec. 20, 2023
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| Coupon: | 9% annualized, payable monthly if each index closes at or above interest barrier level on review date for that period
|
| 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
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date except the first, second and final dates
|
| Initial levels: | 32,953.46 for Dow, 13,082.54 for Nasdaq and 2,360.168 for Russell
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| Interest barrier: | 23,067.422 for Dow, 9,157.778 for Nasdaq and 1,652.1176 for Russell; 70% of initial levels
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| Trigger levels: | 23,067.422 for Dow, 9,157.778 for Nasdaq and 1,652.1176 for Russell; 70% of initial levels
|
| Pricing date: | March 15
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| Settlement date: | March 18
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.40974%
|
| Cusip: | 48132TAC0
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