Published on 4/24/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $360,000 contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, April 25 – JPMorgan Chase Financial Co. LLC priced $360,000 of autocallable contingent interest notes due Sept. 27, 2024 linked to the least performing of the stocks of Blackstone Inc., Apollo Global Management, Inc. and KKR & Co. Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each stock closes at or above its 60% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 60% trigger level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
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: | Blackstone Inc., Apollo Global Management, Inc. and KKR & Co. Inc.
|
Amount: | $360,000
|
Maturity: | Sept. 27, 2024
|
Coupon: | 8.5% annualized, payable quarterly if each stock closes at or above 60% coupon barrier on review date for that quarter, plus any previously unpaid coupon
|
Price: | Par
|
Payout at maturity: | Par unless any stock closes below 60% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
Call: | At par if each stock closes at or above initial level on any review date other than final date
|
Initial levels: | $125.10 for Blackstone, $62.41 for Apollo, $62.03 for KKR
|
Trigger levels: | $75.06 for Blackstone, $37.446 for Apollo, $37.218 for KKR; 60% of initial levels
|
Pricing date: | Sept. 27, 2021
|
Settlement date: | Sept. 30, 2021
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.5%
|
Cusip: | 48132W3L1
|
|
© 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.