Published on 12/29/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $18.77 million autocallable contingent interest notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Dec. 29 – JPMorgan Chase Financial Co. LLC priced $18.77 million of autocallable contingent interest notes due June 27, 2024 linked to the least performing of the Nasdaq-100 index, 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 monthly coupon at an annual rate of 7% if each index closes at or above its interest barrier level, 80% 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 monthly review date other than the first through fifth and final review dates.
The payout at maturity will be par plus the final coupon, if any, if all indexes finish above their 70% trigger levels. 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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Amount: | $18,773,000
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Maturity: | June 27, 2024
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Coupon: | 7% annual rate, payable monthly if each index 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 if all indexes finish above trigger levels; otherwise, 1% loss for each 1% decline of least performing index from initial level
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Call: | Automatically at par plus any contingent coupon if each index closes at or above initial level on any monthly review date except for first through fifth and final review dates
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Initial levels: | 4,696.56 for S&P, 16,180.14 for Nasdaq, 2,221.903 for Russell
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Interest barrier levels: | 3,757.248 for S&P, 12,944.112 for Nasdaq, 1,777.5224 for Russell; 80% of initial levels
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Trigger levels: | 3,287.592 for S&P, 11,326.098 for Nasdaq, 1,555.3321 for Russell; 70% of initial levels
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.44792%
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Cusip: | 48132YL94
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