Published on 9/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million autocallable contingent interest notes on three ETFs
By William Gullotti
Buffalo, N.Y., Sept. 17 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due June 28, 2023 linked to the least performing of the iShares Russell 2000 ETF, the VanEck Vectors Gold Miners ETF and the Energy Select Sector SPDR Fund, 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 10% if each ETF 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 ETF closes at or above its initial level on any monthly review date other than the first, second and final dates.
If the notes have not been called, the payout at maturity will be par unless any ETF closes below its 60% trigger value during the life of the notes and any ETF finishes below its initial level, 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: | iShares Russell 2000 ETF, VanEck Vectors Gold Miners ETF, Energy Select Sector SPDR Fund
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| Amount: | $1,000,000
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| Maturity: | June 28, 2023
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| Coupon: | 10% annualized, payable monthly 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 closes below its trigger value during the life of the notes and any ETF finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each ETF closes at or above initial level on any monthly review date other than the first, second, and final ones
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| Initial levels: | $232.28 for iShares, $34.36 for VanEck, $55.34 for SPDR
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| Interest barrier: | $162.596 for iShares, $24.052 for VanEck, $38.738 for SPDR; 70% of initial values
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| Trigger levels: | $139.368 for iShares, $20.616 for VanEck, $33.204 for SPDR; 60% of initial values
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48132UTG8
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