Published on 12/22/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.14 million contingent interest autocalls on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 22 – JPMorgan Chase Financial Co. LLC priced $1.14 million of autocallable contingent interest notes due March 16, 2023 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 month, the notes will pay a contingent coupon at the rate of 7.25% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review other than the first, second and final review dates.
If the notes have not been called, the payout at maturity will be par plus the coupon unless any index finishes below 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
|
| 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: | $1,140,000
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| Maturity: | March 16, 2023
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| Coupon: | 7.25% per year, payable monthly if each index closes at or above interest barrier level on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger value, 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 contingent coupon if each index closes at or above initial level on any review other than first, second and final review dates
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| Initial levels: | 4,668.97 for S&P, 16,082.55 for Nasdaq, 2,180.495 for Russell
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| Interest barriers: | 3,268.279 for S&P, 11,257.785 for Nasdaq, 1,526.3465 for Russell,70% of initial levels
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| Trigger levels: | 3,268.279 for S&P, 11,257.785 for Nasdaq, 1,526.3465 for Russell, 70% of initial levels
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| Pricing date: | Dec. 13
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| Settlement date: | Dec. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48133CAK8
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