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Published on 3/8/2021 in the Prospect News Structured Products Daily.

New Issue: JPMorgan sells $1.89 million contingent interest autocalls on ARK Innovation ETF

By Wendy Van Sickle

Columbus, Ohio, March 8 – JPMorgan Chase Financial Co. LLC priced $1.89 million of autocallable contingent interest notes due Feb. 23, 2024 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a contingent monthly coupon at an annual rate of 6.4% if the fund closes at or above its 50% coupon barrier on the review date for that month.

The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any quarterly call review date after six months.

The payout at maturity will be par plus the coupon unless the fund finishes below its 50% barrier level, in which case investors will be exposed to the fund’s decline from its initial level.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

Issuer:JPMorgan Chase Financial Co. LLC
Guarantor:JPMorgan Chase & Co.
Issue:Autocallable contingent interest notes
Underlying fund:ARK Innovation ETF
Amount:$1,894,000
Maturity:Feb. 23, 2024
Coupon:6.4% annualized, payable monthly if fund closes at or above coupon barrier on review date for that month
Price:Par
Payout at maturity:Par plus the coupon unless the fund finishes below its barrier level, in which case investors will be exposed to the fund’s decline from its initial level
Call:At par plus contingent coupon if fund closes at or above initial level on any quarterly call review date after six months
Initial level:$152.61
Coupon barrier level:$83.424, 50% of initial level
Barrier level:$76.305, 50% of initial level
Pricing date:Feb. 19
Settlement date:Feb. 24
Agent:J.P. Morgan Securities LLC
Fees:2.95%
Cusip:48132R3A6

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