Published on 6/9/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $919,000 autocallable contingent interest notes on indexes
By William Gullotti
Buffalo, N.Y., June 9 – JPMorgan Chase Financial Co. LLC priced $919,000 of autocallable contingent interest notes due Aug. 18, 2022 linked to the least performing of 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 8.5% if each index closes at or above its interest barrier level, 75% 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 after six months.
The payout at maturity will be par plus the final coupon if both indexes finish above their initial levels. Investors will also receive par if no index ever closes below its 70% trigger level any day during the life of the notes. Otherwise, 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, S&P 500 index
|
| Amount: | $919,000
|
| Maturity: | Aug. 18, 2022
|
| Coupon: | 8.5% annual rate, payable quarterly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par if indexes finish above initial levels; par if no index closes below trigger level during the life of the notes; otherwise, 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 after six months
|
| Initial levels: | 4,112.5 for S&P, 2,170.95 for Russell
|
| Interest barrier levels: | 3,084.375 for S&P, 1,628.2125 for Russell; 75% of initial levels
|
| Trigger levels: | 3,084.375 for S&P, 1,628.2125 for Russell; 75% of initial levels
|
| Pricing date: | May 13
|
| Settlement date: | May 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48132TN51
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
