Published on 8/21/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.03 million autocallable barrier notes on indexes
By Kiku Steinfeld
Chicago, Aug. 23 – JPMorgan Chase Financial Co. LLC priced $1.03 million of 0% autocallable barrier notes due July 31, 2024 linked to 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.
The notes will be automatically redeemed at par plus an 8% per year premium if all indexes finish above their initial levels on any biannual review date.
If the notes are not called and all indexes close above their initial levels, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,029,000
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| Maturity: | July 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
|
| Call: | At par plus 8% per year if each index finishes above initial level on any biannual review date
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| Initial index levels: | 14,959.90 for Nasdaq, 2,226.246 for Russell, 4,395.26 for S&P
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| Barrier levels: | 10,471.93 for Nasdaq, 1,558.3722 for Russell, 3,076.682 for S&P; 70% of initial levels
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.69874%
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| Cusip: | 48132UVK6
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