Published on 9/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $922,000 autocallable contingent interest notes on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 17 – JPMorgan Chase Financial Co. LLC sold $922,000 of autocallable contingent interest notes due June 28, 2024 linked to the performance of the stocks of Ford Motor Co., Chipotle Mexican Grill, Inc. and Citigroup 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 10.5% if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the coupon if each index 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 60% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Ford Motor Co., Chipotle Mexican Grill, Inc., Citigroup Inc.
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| Amount: | $922,000
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| Maturity: | June 28, 2024
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| Coupon: | 10.5% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month
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| Price: | Par
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| 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
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| Call option: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly call date after six months
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| Initial levels: | $1,518.75 for Chipotle, $15.19 for Ford, $71.55 for Citi
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| Interest barriers: | $911.25 for Chipotle, $9.114 for Ford, $42.93 for Citi; 60% of initial levels
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| Trigger values: | $911.25 for Chipotle, $9.114 for Ford, $42.93 for Citi; 60% of initial levels
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| Pricing date: | June 20
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| Settlement date: | June 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48132UKQ5
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