Published on 8/8/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.07 million contingent interest autocalls on Russell, Nasdaq, S&P
By Kiku Steinfeld
Chicago, Aug. 9 – JPMorgan Chase Financial Co. LLC priced $3.07 million of autocallable contingent interest notes due April 21, 2022 linked to the least performing of the Russell 2000 index, the Nasdaq-100 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 3.75% if each index 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 index closes at or above its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par unless any index closes below its 75% barrier level during the life of the notes and finishes below its initial level, in which case 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $3,065,000
|
| Maturity: | April 21, 2022
|
| Coupon: | 3.75% annualized, payable monthly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its barrier level during the life of the notes and finishes below its initial level, in which case 1% loss for each 1% decline of least performing index
|
| Call: | At par plus contingent coupon if each index closes at or above initial level on any monthly review date other than first, second and final dates
|
| Initial levels: | 14,681.38 for Nasdaq, 2,163.238 for Russell, 4,327.16 for S&P
|
| Interest barrier: | 11,011.035 for Nasdaq, 1,622.4285 for Russell, 3,245.37 for S&P; 75% of initial levels
|
| Trigger levels: | 11,011.035 for Nasdaq, 1,622.4285 for Russell, 3,245.37 for S&P; 75% of initial levels
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.41762%
|
| Cusip: | 48132UXM0
|
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