Published on 8/30/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $714,000 contingent interest autocalls on S&P, Russell
By Kiku Steinfeld
Chicago, Aug. 30 – JPMorgan Chase Financial Co. LLC priced $714,000 of autocallable contingent interest notes due Jan. 5, 2023 linked to the least performing of the S&P 500 index and the Russell 2000 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 7.75% if each underlying closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlying closes at or above its initial level on any monthly review date other than the first, second and final review dates.
If the notes have not been called, the payout at maturity will be par unless either underlier finishes below its initial level and either ever closes below its 70% trigger value, in which case investors will lose 1% for every 1% that the worst performing asset finishes below its 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 assets: | S&P 500 index, Russell 2000 index
|
| Amount: | $714,000
|
| Maturity: | Jan. 5, 2023
|
| Coupon: | 7.75% annual rate, payable monthly if each underlying closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below initial level and either ever closes its trigger value, in which case investors will lose 1% for every 1% that the worst performing asset finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each underlying closes at or above initial level on any monthly review date other than the first, second and final dates
|
| Initial levels: | 2,310.549 for Russell, 4,297.50 for S&P
|
| Interest barrier: | 1,617.3843 for Russell, 3,008.25 for S&P; 70% of initial levels
|
| Trigger levels: | 1,617.3843 for Russell, 3,008.25 for S&P; 70% of initial levels
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.42192%
|
| Cusip: | 48132UQF3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
