Published on 12/28/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4 million contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Dec. 29 – JPMorgan Chase Financial Co. LLC priced $4 million of autocallable contingent interest notes due Dec. 5, 2024 tied to the least performing of the Nasdaq-100 index, the S&P 500 index and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 5.7% per year if each asset closes at or above its interest barrier level, 75% of its initial level, on the review date for that month.
The notes will be automatically called at par if each asset closes at or above its initial level on any monthly autocall review date other than the first through fifth and final dates.
If the notes have not been called, the payout at maturity will be par unless any asset below its barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level.
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 contingent interest notes
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| Underlying assets: | Nasdaq-100 index, S&P 500 index and iShares Russell 2000 Value ETF
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| Amount: | $4 million
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| Maturity: | Dec. 5, 2024
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| Coupon: | 5.7% per year, payable monthly if each asset closes at or above coupon barrier level on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its barrier level, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level
|
| Call: | Automatically at par if each asset closes at or above its initial level on any monthly autocall review date other than first through fifth and final dates
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| Initial asset levels: | 16,135.92 for Nasdaq, 4,567.00 for S&P, $160.47 for Russell
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| Coupon barrier levels: | 11,295.144 for Nasdaq, 3,196.9 for S&P, $112.329 for Russell; 70% of initial levels
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| Barrier levels: | 11,295.144 for Nasdaq, 3,196.9 for S&P, $112.329 for Russell; 70% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132Y3L7
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