Published on 7/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $720,000 autocallable contingent interest notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, July 22 – JPMorgan Chase Financial Co. LLC priced $720,000 of autocallable contingent interest notes due June 2, 2022 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P 500 ETF trust, 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 9.2% if each underlying 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 underlying closes at or above its initial level on any monthly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless any underlier closes below its 70% trigger value during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its 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: | Autocallable contingent interest notes
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| Underlying assets: | Russell 2000 index, Nasdaq-100 index, SPDR S&P 500 ETF trust
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| Amount: | $720,000
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| Maturity: | June 2, 2022
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| Coupon: | 9.2% annual rate, payable monthly if each underlying 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 the final coupon unless any underlier closes below its trigger value during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial level on any monthly review date other than final date
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| Initial levels: | $419.29 for ETF, 13,657.85 for Nasdaq, 2,273.073 for Russell
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| Interest barrier: | $293.503 for ETF, 9,560.495 for Nasdaq, 1,591.1511 for Russell; 70% of initial levels
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| Trigger levels: | $293.503 for ETF, 9,560.495 for Nasdaq, 1,591.1511 for Russell; 70% of initial levels
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| Pricing date: | May 27
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| Settlement date: | June 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.58698%
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| Cusip: | 48132UCS0
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