Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.5 million yield notes on three stocks
By Kiku Steinfeld
Chicago, May 17 – JPMorgan Chase Financial Co. LLC, priced $1.5 million of 15.65% yield notes due Oct. 18, 2023 linked to the least performing of the stocks of Kohl’s Corp., Cleveland-Cliffs Inc. and Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless any stock finishes below its 60% knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Yield notes
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| Underlying stocks: | Kohl’s Corp., Cleveland-Cliffs Inc. and Peloton Interactive, Inc.
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| Amount: | $1.5 million
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| Maturity: | Oct. 18, 2023
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| Coupon: | 15.65%, paid monthly
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| Price: | Par
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its knock-in level, in which case investors will be exposed to the decline of the least-performing stock from its initial level
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| Initial levels: | $45.19 for Kohl’s, $21.49 for Cleveland, $86.71 for Peloton
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| Knock-in levels: | $27.114 for Kohl’s, $12.894 for Cleveland, $52.026 for Peloton, or 60% of initial levels
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| Pricing date: | Oct. 14, 2021
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| Settlement date: | Oct. 19, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48132YCS2
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