Published on 6/7/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2 million callable contingent interest notes on Russell, Nasdaq, EM ETF
By Wendy Van Sickle
Columbus, Ohio, June 7 – JPMorgan Chase Financial Co. LLC priced $2 million of callable contingent interest notes due Aug. 11, 2022 linked to the least performing of the VanEck Vectors Gold Miners ETF, the Nasdaq-100 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 12.6% if each asset closes at or above its interest barrier level, 65% of its initial level, on the review date for that period.
The notes are callable at par on any quarterly call review date after six months.
The payout at maturity will be par unless any asset finishes below its initial level and any asset closes below its 65% trigger value on any day during the life of the notes, 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.
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| Issue: | Callable contingent interest notes
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| Underlying Assets: | VanEck Vectors Gold Miners ETF, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $2 million
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| Maturity: | Aug. 11, 2022
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| Coupon: | 12.6% annualized, payable monthly if each asset closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset closes below 65% trigger value on any day during the life of the notes, in which case 1% loss for each 1% decline of least performing asset from initial level
|
| Call option: | At par on any quarterly call review date after six months
|
| Initial levels: | 13,719.63 for Nasdaq, $37.42 for Gold Miners and 2,271.629 for Russell
|
| Interest barrier: | 8,917.7595 for Nasdaq, $24.323 for Gold Miners and 1,476.55885 for Russell, 65% of initial values
|
| Trigger levels: | 8,917.7595 for Nasdaq, $24.323 for Gold Miners and 1,476.55885 for Russell, 65% of initial values
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| Pricing date: | May 7
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| Settlement date: | May 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132TL87
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