Published on 6/25/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.23 million 7.45% autocallable yield notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., June 25 – JPMorgan Chase Financial Co. LLC priced $9.23 million of 7.45% autocallable yield notes due Sept. 27, 2022 linked to the Dow Jones industrial average, 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 asset 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 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 performing asset finishes below 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 yield notes
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Underlying assets: | Dow Jones industrial average, S&P 500 index, ARK Innovation ETF
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Amount: | $9,226,000
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Maturity: | Sept. 27, 2022
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Coupon: | 7.45% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par unless any asset finishes below its initial level and any asset ever closes below trigger level during the life of the notes, in which case 1% loss for each 1% decline of the worst performing asset from initial levels
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Call option: | At par if each index closes at or above its initial level any quarterly review date after six months
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Initial levels: | 33,945.58 for Dow, 4,246.44 for S&P, $121.02 for ETF
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Trigger levels: | 20,367.348 for Dow, 2,547.864 for S&P, $72.612 for ETF; 60% of initial levels
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Pricing date: | June 22
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Settlement date: | June 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.975%
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Cusip: | 48132UMK6
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