Published on 8/31/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.04 million contingent interest autocalls on S&P, Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – JPMorgan Chase Financial Co. LLC priced $1.04 million of autocallable contingent interest notes due June 27, 2022 tied to the least performing of 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.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its initial level and ever closes below its trigger value, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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 and Nasdaq-100 index
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| Amount: | $1.04 million
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| Maturity: | June 27, 2022
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| Coupon: | 8% per year, payable quarterly if each index closes at or above interest barrier level on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its initial level and ever closes below its trigger level, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
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| Call: | Automatically at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than final review date
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| Initial levels: | 4,246.44 for S&P, 14,270.42 for Nasdaq and 2,295.948 for Russell
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| Interest barriers: | 2,972.508 for S&P, 9,99.294 for Nasdaq and 1,607.1636 for Russell; 70% of initial levels
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| Triggers: | 2,972.508 for S&P, 9,99.294 for Nasdaq and 1,607.1636 for Russell; 70% of initial levels
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| Pricing date: | June 22
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| Settlement date: | June 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48132USA2
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