Published on 11/24/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $578,000 callable contingent interest notes on three stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – JPMorgan Chase Financial Co. LLC sold $578,000 of callable contingent interest notes due Aug. 9, 2024 linked to the lesser performing of the stocks of Goldman Sachs Group, Inc., Southwest Airlines Co. and Netflix, 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 14% if each stock closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be callable at par on 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying stocks: | Goldman Sachs Group, Inc., Southwest Airlines Co., Netflix, Inc
|
| Amount: | $578,000
|
| Maturity: | Aug. 9, 2024
|
| Coupon: | 14% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month
|
| 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: | At par on any quarterly call date after six months
|
| Initial levels: | $50.72 for Southwest, $397.89 for Goldman Sachs, $520.55 for Netflix
|
| Interest barriers: | $35.504 for Southwest, $278.523 for Goldman Sachs, $364.385 for Netflix; 70% of initial levels
|
| Trigger values: | $30.432 for Southwest, $238.734 for Goldman Sachs, $312.33 for Netflix; 60% of initial levels
|
| Pricing date: | Aug. 6
|
| Settlement date: | Aug. 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48132UE82
|
|
|
|
|
© 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.
