Published on 12/23/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $428,000 autocallable barrier notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Dec. 23 – JPMorgan Chase Financial Co. LLC priced $428,000 of 0% autocallable barrier notes due Aug. 29, 2024 linked to 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.
The notes will be automatically redeemed if all indexes finish above their initial levels on any semiannual review date based on an annual redemption amount of 5.75%.
If the notes are not called and all indexes close at or above 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable barrier notes
|
| Underlying indexes: | S&P 500, Nasdaq-100 index, Russell 2000 index
|
| Amount: | $428,000
|
| Maturity: | Aug. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| 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
|
| Call: | Automatically if all indexes finish above initial levels on any semiannual review date at an annualized premium of 5.75%
|
| Initial index levels: | 4,470.00 for S&P, 2,213.979 Russell, 15,278.52 for Nasdaq
|
| Barrier levels: | 3,129.00 for S&P, 1,549.7853 for Russell 10,694.964 for Nasdaq, 70% of initial levels
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132UP98
|
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