Published on 8/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $427,000 contingent interest notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Aug. 23 – JPMorgan Chase Financial Co. LLC priced $427,000 of contingent interest notes due Dec. 20, 2022 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 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 pay a contingent monthly coupon at a rate of 7% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that period.
The payout at maturity will be par unless any index finishes below its initial level and ever finishes below its 70% trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index.
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: | Contingent interest notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $427,000
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| Maturity: | Dec. 20, 2022
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| Coupon: | 7% annual rate, payable monthly if each index closes at or above its coupon barrier on the review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and ever finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index
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| Initial levels: | 14,030.41 for Nasdaq, 2,320.072 for Russell, 4,246.59 for S&P
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| Coupon barrier/trigger levels: | 9,821.287 for Nasdaq, 1,624.0504 for Russell, 2,972.613 for S&P; 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: | 0.32395%
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| Cusip: | 48132UGZ0
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