Published on 11/3/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $280,000 contingent interest autocalls on three indexes
By Kiku Steinfeld
Chicago, Nov. 3 – JPMorgan Chase Financial Co. LLC priced $280,000 of autocallable contingent interest notes due May 2, 2023 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 6.15% 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 at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par if each index finishes at or above its 70% trigger level. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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, Nasdaq-100 index, S&P 500 index
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| Amount: | $280,000
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| Maturity: | May 2, 2023
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| Coupon: | 6.15% annual rate, payable quarterly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | If all indexes finish at or above trigger level, par; otherwise, 1% loss for every 1% decline of worst performer from initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than the first and final ones
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| Initial levels: | 4,401.46 for S&P, 14,956.97 for Nasdaq, 2,191.833 for Russell
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| Interest barrier: | 3,301.095 for S&P, 11,217.7275 for Nasdaq, 1,643.87475 for Russell; 75% of initial levels
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| Trigger levels: | 3,081.022 for S&P, 10,469.879 for Nasdaq, 1,534.2831 for Russell; 70% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48132U6X6
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