Published on 8/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.18 million autocallable contingent interest notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, Aug. 23 – JPMorgan Chase Financial Co. LLC priced $1.18 million of autocallable contingent interest notes due Dec. 20, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at an annual rate of 5.25% if each index closes at or above its interest barrier level, 75% of its initial level, on the review date for that period.
The notes will be called if each index closes at or above its initial level on any quarterly review date other than the first and final dates.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 75% trigger level, in which case investors will lose 1% for every 1% decline of the least-performing index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying indexes: | S&P 500, Russell 2000, Dow Jones industrial average
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| Amount: | $1,177,000
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| Maturity: | Dec. 20, 2022
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| Coupon: | Quarterly at 5.25% per year if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its trigger level, in which case 1% loss for every 1% decline of least-performing index
|
| Call: | Automatically at par if each index closes at or above its initial level on any quarterly review date other than first and final
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| Initial levels: | 4,246.59 for S&P, 2,320.072 for Russell, 34,299.33 for Dow
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| Interest barrier/trigger levels: | 3,184.9425 for S&P, 1,740.054 for Russell, 25,724.4975 for Dow; 75% 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: | 1.5%
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| Cusip: | 48132UMM2
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