Published on 9/16/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.81 million autocallable contingent interest notes on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 16 – JPMorgan Chase Financial Co. LLC sold $1.81 million of autocallable contingent interest notes due June 28, 2024 linked to the performance of the stocks of Las Vegas Sands Corp., Southwest Airlines Co. and Capital One Financial Corp., 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% if each stock closes at or above its interest barrier level, 65% of its initial level, on the review date for that month.
The notes will be automatically called at par plus coupon on quarterly call date after six months.
The payout at maturity will be par plus the final coupon, unless any stock finishes below the 65% 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: | Las Vegas Sands Corp., Southwest Airlines Co., Capital One Financial Corp.
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Amount: | $1,802,000
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Maturity: | June 28, 2024
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Coupon: | 10% 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 on any quarterly call date after six months
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Initial levels: | $54.55 for Southwest, $52.68 for Vegas Sands, $159.99 for Capital One
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Interest barriers: | $35.4575 for Southwest, $34.242 for Vegas Sands, $103.9935 for Capital One; 65% of initial levels
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Trigger values: | $35.4575 for Southwest, $34.242 for Vegas Sands, $103.9935 for Capital One; 65% of initial levels
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48132UFB4
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