Published on 5/18/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.93 million autocallable barrier notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 18 – JPMorgan Chase Financial Co. LLC priced $1.93 million of 0% autocallable barrier notes due April 30, 2024 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 7% premium if all indexes finish above their initial levels on any semiannual observation 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 70% 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.
|
| Issue: | Autocallable barrier notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Russell 2000 index
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| Amount: | $1,925,000
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| Maturity: | April 30, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If all indexes finish positive, par plus return of worst performer; par if at least one index declines but worst performer finishes above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
|
| Call: | At par plus annualized premium of 7% if each index finishes above initial level on any semiannual observation date
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| Initial levels: | 2,301.267 for Russell, 4,186.72 for S&P, 13,960.28 for Nasdaq
|
| Trigger levels: | 1,610.8869 for Russell, 2,930.704 for S&P, 9,772.196 for Nasdaq, 70% of initial levels
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| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132TPX8
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