Published on 9/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.4 million autocallable contingent interest notes on indexes
Chicago, Sept. 17 – JPMorgan Chase Financial Co. LLC priced $3.4 million of autocallable contingent interest notes due March 28, 2022 linked to the least performing of the Russell 2000 index and the S&P 500 index, 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 quarterly coupon at an annual rate of 9.86% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date.
The payout at maturity will be par plus the final coupon if both indexes finish above their initial levels or neither index closes below its 70% trigger level at any point during the life of the notes. Otherwise, investors will lose 1% for each 1% decline from the worst performer’s initial level.
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
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| Amount: | $3,403,000
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| Maturity: | March 28, 2022
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| Coupon: | 9.86% annual rate, payable quarterly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon if both indexes finish above their initial levels; par if neither index closes below trigger level on any day during the life of the notes; otherwise, 1% loss for each 1% decline of least performing index from initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date
|
| Initial levels: | 3,910.52 for S&P, 2,185.687 for Russell
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| Interest barrier levels: | 2,737.364 for S&P, 1,529.9809 for Russell; 70% of initial levels
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| Trigger levels: | 2,737.364 for S&P, 1,529.9809 for Russell; 70% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48132TKS4
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