Published on 8/19/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.91 million autocallable contingent interest notes on stocks
By William Gullotti
Buffalo, N.Y., Aug. 19 – JPMorgan Chase Financial Co. LLC priced $1.91 million of autocallable contingent interest notes due May 16, 2024 linked to the least performing of the common stocks of Alphabet Inc., the Lowe’s Cos., Inc. and the Advanced Micro Devices, 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 8% if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 60% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s 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: | Lowe’s Cos., Inc., Alphabet Inc., Advanced Micro Devices, Inc.
|
| Amount: | $1,906,000
|
| Maturity: | May 16, 2024
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| Coupon: | 8% annual rate, payable monthly if each stock closes at or above interest barrier level on review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from initial level
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly review date after six months
|
| Initial levels: | $76.83 for AMD, $2,270.06 for Alphabet, $205.34 for Lowe’s
|
| Interest barrier: | $46.098 for AMD, $1,362.036 for Alphabet, $123.204 for Lowe’s; 60% of initial levels
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| Trigger levels: | $46.098 for AMD, $1,362.036 for Alphabet, $123.204 for Lowe’s; 60% of initial levels
|
| Pricing date: | May 11
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| Settlement date: | May 14
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
|
| Cusip: | 48132T6Y7
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