Published on 8/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $507,000 autocallable contingent interest notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $507,000 of autocallable contingent interest notes due Dec. 20, 2022 linked to the least performing of the S&P 500 index and the Russell 2000 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 monthly coupon at an annual rate of 8.5% 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 after three months.
If the notes have not been called, the payout at maturity will be par plus the final coupon unless either index closes below its 70% trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser performing index 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 indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $507,000
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| Maturity: | Dec. 20, 2022
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| Coupon: | 8.5% annual rate, payable monthly if each index 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 either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser 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 monthly review date after three months
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| Initial levels: | 4,246.59 for S&P, 2,320.072 for Russell
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| Interest barrier: | 2,972.613 for S&P, 1,624.0504 for Russell; 70% of initial levels
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| Trigger levels: | 2,972.613 for S&P, 1,624.0504 for Russell; 70% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.28797%
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| Cusip: | 48132UHD8
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