Apple in last few months was on fire in releasing iOS updates for its devices. Currently users rocking on iOS 9.0, iOS 9.0.1, and iOS 9.0.2 can jailbreak there devices with a software called “Pangu”
Just after Pangu released its jailbreak for iOS 9.0.1/0.2, Apple released iOS 9.1 and 9.2 for which currently there is no information when users will be able to jailbreak there device.
There are many rumours flying around saying Pangu was ready to release a working iOS 9.2 jailbreak, but this has not been confirmed yet.
Recently apple released its Beta for iOS 9.2.1 for the developers. So if there is any jailbreak available for the 9.2 then Apple has already patched the exploits in it with iOS 9.2.1
The iOS 9.2.1 update is likely a very small update from Apple with no new features. It might have some security fixes in it that Apple is releasing just in case Pangu releases an iOS 9.2 jailbreak tool.