Published on 8/27/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.53 million autocallable yield notes on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – JPMorgan Chase Financial Co. LLC priced $5.53 million of 7.1% autocallable yield notes due Nov. 29, 2022 linked to the worst performing of the S&P 500 index, Russell 2000 index and ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable monthly.
The notes will be called at par if each asset closes at or above its initial level on any quarterly review date starting Feb. 23, 2022.
The payout at maturity will be par unless any asset finishes below its initial level and any asset has ever closed below its trigger level, 65% of its initial level, in which case investors will be fully exposed to the decline of the least performing asset.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying assets: | S&P 500 index, Russell 2000 index and ARK Innovation ETF
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| Amount: | $5,528,000
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| Maturity: | Nov. 29, 2022
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| Coupon: | 7.1% per year, payable monthly
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| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below initial level and any asset has ever closed below trigger level, in which case full exposure to decline of worst performing asset
|
| Call: | Notes will be called at par if each asset closes at or above initial level on any quarterly review date starting Feb. 23, 2022
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| Initial levels: | 4,479.53 for S&P, 2,208.295 for Russell and $119.48 for ETF
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| Trigger levels: | 2,911.6945 for S&P, 1,435.39175 for Russell and $677.662for ETF; 65% of initial levels
|
| Pricing date: | Aug. 23
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| Settlement date: | Aug. 26
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.975%
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| Cusip: | 48132WBP3
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