Published on 8/23/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.94 million autocallable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Aug. 23 – JPMorgan Chase Financial Co. LLC priced $1.94 million of autocallable contingent interest notes due Dec. 29, 2022 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 6.5% if each underlier closes at or above its interest barrier level, 75% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any monthly review date other than the first through third and final review dates.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 70% 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying assets: | S&P 500 index, Nasdaq-100 index, iShares Russell 2000 ETF
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Amount: | $1,944,000
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Maturity: | Dec. 29, 2022
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Coupon: | 6.5% annual rate, payable monthly if each underlier closes at or above interest barrier level on review date for that period
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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
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly review date other than the first through third and final dates
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Initial levels: | $228.66 for ETF, 14,274.24 for Nasdaq, 4,241.84 for S&P
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Interest barrier: | $171.495 for ETF, 10,705.68 for Nasdaq, 3,181.38 for S&P; 75% of initial levels
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Trigger levels: | $160.062 for ETF, 9,991.968 for Nasdaq, 2,969.288 for S&P; 70% of initial levels
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48132URQ8
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