Published on 10/19/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $300,000 contingent interest autocalls on three ETFs
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $300,000 of autocallable contingent interest notes due July 27, 2023 linked to the least performing of the SPDR S&P 500 ETF trust, the Invesco QQQ Trust, series 1 and the SPDR Euro Stoxx 50 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 quarterly coupon at an annual rate of 4.85% if each ETF 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 ETF closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless any ETF finishes below its 75% trigger value, 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 ETFs: | Invesco QQQ Trust, series 1, SPDR S&P 500 ETF trust, SPDR Euro Stoxx 50 ETF
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| Amount: | $300,000
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| Maturity: | July 27, 2023
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| Coupon: | 4.85% annual rate, payable quarterly if each ETF 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 ETF finishes below its trigger value, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any quarterly review date other than the final one
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| Initial levels: | 4,438.26 for S&P, 15,052.42 for SPDR S&P, 2,274.177 for QQQ
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| Interest barrier: | 3,106.782 for S&P, 10,536.694 for SPDR S&P, 1,591.9239 for QQQ; 75% of initial levels
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| Trigger levels: | 3,106.782 for S&P, 10,536.694 for SPDR S&P, 1,591.9239 for QQQ; 75% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132UF40
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