Published on 8/2/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $933,000 7.35% autocallable yield notes on Russell, S&P, ARK Innovation ETF
By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – JPMorgan Chase Financial Co. LLC priced $933,000 of 7.35% autocallable yield notes due Sept. 9, 2022 linked to the Russell 2000 index, the S&P 500 index and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be called at par if each underlier closes at or above its initial level on any quarterly review date after six months.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 60% trigger value during the life of the notes and any underlier finishes below its initial level, 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying assets: | Russell 2000 index, S&P 500 index, ARK Innovation ETF
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| Amount: | $933,000
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| Maturity: | Sept. 9, 2022
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| Coupon: | 7.35% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any underlier closes below its trigger value during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performing asset finishes below its initial level
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| Call option: | At par if each index closes at or above its initial level any quarterly review date after six months
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| Initial levels: | 2,279.248 for Russell, 4,192.85 for S&P, $107.43 for ETF
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| Trigger levels: | 1,367.5488 for Russell, 2,515.71 for S&P, $64.458 for ETF; 60% of initial levels
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| Pricing date: | June 3
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| Settlement date: | June 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48132UKK8
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