Published on 12/1/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.43 million 7.55% autocallable yield notes on indexes, ETF
By Kiku Steinfeld
Chicago, Dec. 1 – JPMorgan Chase Financial Co. LLC priced $3.43 million of 7.55% autocallable yield notes due Feb. 24, 2023 linked to the Russell 2000 index, the S&P 500 index and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each underlier closes at or above its initial level on any quarterly review date after six months.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% trigger value during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level.
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: | Russell 2000 index, S&P 500 index, ARK Innovation ETF
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| Amount: | $3,425,000
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| Maturity: | Feb. 24, 2023
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| Coupon: | 7.55% per year, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless any underlier closes below its trigger value during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call option: | At par if each underlier closes at or above its initial level any quarterly review date after six months
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| Initial levels: | 2,343.161 for Russell, 4,697.96 for S&P, $113.24 for ETF
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| Trigger levels: | 1,523.05465 for Russell, 3,053.674 for S&P, $73.606 for ETF; 65% of initial levels
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 24
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.975%
|
| Cusip: | 48132YRX5
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