Published on 5/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $525,000 autocallable contingent interest notes on two stocks
Chicago, May 25 – JPMorgan Chase Financial Co. LLC sold $525,000 of autocallable contingent interest notes due Oct. 31, 2024 linked to the lesser performing of the stocks of Alphabet Inc. and Apple 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 quarterly coupon at an annual rate of 7.3% if each stock closes at or above its interest barrier level, 70% 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 95% of 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 70% 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: | Alphabet Inc. and Apple Inc.
|
| Amount: | $525,000
|
| Maturity: | Oct. 31, 2024
|
| Coupon: | 7.3% annualized, payable quarterly 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 95% of its initial level on any quarterly call date after six months
|
| Initial levels: | $2,924.35 for Alphabet, $148.85 for Apple
|
| Interest barriers: | $2,047.045 for Alphabet, $104.195 for Apple; 70% of initial levels
|
| Trigger values: | $2,047.045 for Alphabet, $104.195 for Apple; 70% of initial levels
|
| Pricing date: | Oct. 27, 2021
|
| Settlement date: | Nov. 1, 2021
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48132YCE3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
