Published on 7/1/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.05 million contingent interest autocalls on S&P, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 1 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due Feb. 24, 2023 tied to the least performing of the Russell 2000 index, the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 6.75% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
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 first, second and final review dates.
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 any index ever closes below 65% 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 Euro Stoxx 50 index
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| Amount: | $1,046,000
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| Maturity: | Feb. 24, 2023
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| Coupon: | 6.75% per year, payable monthly if each index closes at or above interest barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below initial level and any index ever closes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any review other than first, second and final review dates
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| Initial levels: | 4,155.86 for S&P, 2,215.268 for Russell, 4,025.78 for Stoxx
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| Interest barriers: | 2,909.102 for S&P, 1,550.6876 for Russell, 2,818.046 for Stoxx; 70% of initial levels
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| Trigger levels: | 2,701.309 for S&P, 1,439.9242 for Russell, 2,616.757 for Stoxx; 65% of initial levels
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| Pricing date: | May 21
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| Settlement date: | May 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48132TZ25
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