Published on 10/6/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.94 million autocallable barrier notes on indexes
By Kiku Steinfeld
Chicago, Oct. 6 – JPMorgan Chase Financial Co. LLC priced $1.94 million of 0% autocallable barrier notes due July 12, 2024 linked to the Russell 2000 index, the Dow Jones industrial average 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 43% if all indexes finish above their initial levels on July 12, 2022.
If the notes are not called and all indexes close at or above 105% 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 at or 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable barrier notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1.94 million
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| Maturity: | July 12, 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 at or above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
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| Call: | At par plus 43% if each index finishes at or above 105% of its initial level on July 12, 2022
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| Initial index levels: | 34,870.16 for Dow, 2,280.005 Russell, 14,826.09 for Nasdaq
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| Barrier levels: | 24,409.112 for Dow, 1,596.0035 Russell, 10,378.263 for Nasdaq, 70% of initial levels
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| Pricing date: | July 9
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| Settlement date: | July 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48132UYP2
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