Published on 2/10/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $625,000 9.2% autocallable yield notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Feb. 10 – JPMorgan Chase Financial Co. LLC priced $625,000 of 9.2% autocallable yield notes due April 25, 2022 linked to the least performing of the S&P 500 index, the Russell 2000 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 asset closes at or above its initial level on any quarterly review date starting Oct. 19, 2021.
If the notes are not called, the payout at maturity will be par unless any asset finishes below its initial level and any asset has ever closed below its 60% trigger, in which case investors will be fully exposed to the decline of the least-performing asset.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, ARK Innovation ETF
|
| Amount: | $625,000
|
| Maturity: | April 25, 2022
|
| Coupon: | 9.2% per year, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless any asset finishes below its initial level and any asset ever closes below trigger level, in which case 1% loss for each 1% decline of the worst-performing asset
|
| Call option: | At par if each index closes at or above its initial level any quarterly review date starting Oct. 19, 2021
|
| Initial levels: | 4,163.26 for S&P, 2,232.001 for Russell, $120.44 for ETF
|
| Trigger levels: | 2,497.956 for S&P, 1,339.2006 for Russell, $72.264 for ETF; 60% of initial levels
|
| Pricing date: | April 19, 2021
|
| Settlement date: | April 22, 2021
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.975%
|
| Cusip: | 48132TWW2
|
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