Published on 5/31/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.25 million contingent interest autocalls on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, June 1 – JPMorgan Chase Financial Co. LLC priced $2.25 million of autocallable contingent interest notes due Nov. 10, 2022 tied to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 9% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review other than the final review date.
If the notes have not been called, the payout at maturity will be par plus the coupon unless any index finishes below its initial level and ever finishes below 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, S&P 500 index and Nasdaq-100 index
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Amount: | $2,254,000
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Maturity: | Nov. 10, 2022
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Coupon: | 9% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
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Price: | Par
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Payout at maturity: | Par unless any index finishes below its initial level and ever finishes below its trigger value, 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 contingent coupon if each index closes at or above initial level on any review other than final review date
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Initial levels: | 4,201.62 for S&P, 2,241.421 for Russell, 13,613.73 for Nasdaq
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Interest barriers: | 2,941.134 for S&P, 1,568.9947 for Russell, 9,529611 for Nasdaq; 70% of initial levels
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Trigger levels: | 2,941.134 for S&P, 1,568.9947 for Russell, 9,529611 for Nasdaq; 70% of initial levels
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Pricing date: | May 6
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Settlement date: | May 11
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.71452%
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Cusip: | 48132TG75
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