Published on 11/15/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $762,000 autocallable barrier notes on three indexes
By Kiku Steinfeld
Chicago, Nov. 15 – JPMorgan Chase Financial Co. LLC priced $762,000 of 0% autocallable barrier notes due July 31, 2026 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 at par plus an annualized 6.5% premium if all indexes finish above their initial levels on any annual review date.
If the notes are not called and all indexes close 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 above 60% 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.
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| Issue: | Autocallable barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000
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| Amount: | $762,000
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| Maturity: | July 31, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if worst performer declines but finishes above barrier level; otherwise, 1% loss for each 1% decline of least performing index
|
| Call: | At par plus annualized premium of 6.5% if each index finishes above initial level on any annual review date
|
| Initial levels: | 2,226.246 for Russell and 4,395.26 for S&P, 14,959.90 for Nasdaq
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| Barrier levels: | 1,335.7476 for Russell and 2,637.156 for S&P, 8,975.94 for Nasdaq; 60% of initial levels
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.05938%
|
| Cusip: | 48132UVL4
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