Published on 11/19/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.16 million autocallable contingent interest notes on three stocks
Chicago, Nov. 19 – JPMorgan Chase Financial Co. LLC sold $1.16 million of autocallable contingent interest notes due April 1, 2024 linked to the least performing of the common stocks of Citizens Financial Group, Inc., salesforce.com, inc. and Micron Technology, Inc., 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 12% if each stock closes at or above its interest barrier level, 55% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call date after six months.
The payout at maturity will be par plus the final coupon, unless any stock finishes below the 55% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Citizens Financial Group, Inc., salesforce.com, inc. and Micron Technology, Inc.
|
| Amount: | $1,159,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 12% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
|
| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date after six months
|
| Initial levels: | $45.01 for Citizens, $209.09 for salesforce, $87.99 for Micron
|
| Interest barriers: | $24.7555 for Citizens, $114.9995 for salesforce, $48.3945 for Micron; 55% of initial levels
|
| Trigger values: | $24.7555 for Citizens, $114.9995 for salesforce, $48.3945 for Micron; 55% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.2%
|
| Cusip: | 48132TDC7
|
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