Published on 9/24/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $10.31 million digital notes on bank, regional banking ETFs
By Wendy Van Sickle
Columbus, Ohio, Sept. 24 – JPMorgan Chase Financial Co. LLC priced $10.31 million of 0% digital notes due Sept. 20, 2024 linked to the lesser performing of the SPDR S&P Bank ETF and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each ETF finishes at or above its initial level, the payout at maturity will be par plus the digital return of 47%.
Otherwise, investors will receive par plus the return of the lesser performing fund.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Digital notes
|
| Underlying ETFs: | SPDR S&P Bank ETF and SPDR S&P Regional Banking ETF
|
| Amount: | $10,307,000
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| Maturity: | Sept. 20, 2024
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each fund finishes at above its initial level, par plus 47%; otherwise, par plus return of lesser-performing fund
|
| Initial levels: | $63.84 | for Regional Banking, $50.52 for Bank
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 22
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 48132WPA1
|
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