Published on 9/8/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.51 million autocallable contingent interest notes on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 8 – JPMorgan Chase Financial Co. LLC sold $2.51 million of autocallable contingent interest notes due Aug. 30, 2024 linked to the performance of the stocks of Square, Inc., DraftKings Inc. and Amazon.com, 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 13% if each stock closes at or above its interest barrier level, 60% of its initial level, on the review date for that month. Any previously unpaid contingent coupons will be paid whenever a coupon is paid.
The notes will be automatically called at par plus coupon on quarterly call date.
The payout at maturity will be par plus any final coupon due unless any stock finishes below the 50% 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.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Square, Inc., DraftKings Inc., Amazon.com, Inc.
|
| Amount: | $2,512,000
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| Maturity: | Aug. 30, 2024
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| Coupon: | 13% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month; coupon payment events will include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus any final coupon due 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: | Automatically at par plus coupon on any quarterly call date
|
| Initial levels: | $60.01 for DraftKings, $268.01 for Square, $3,349.63 for Amazon
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| Interest barriers: | $36.006 for DraftKings, $160.806 for Square, $2,009.778 for Amazon; 60% of initial levels
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| Trigger values: | $30.005 for DraftKings, $134.005 for Square, $1,674.815 for Amazon; 50% of initial levels
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| Pricing date: | Aug. 27
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| Settlement date: | Sept. 1
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3.25%
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| Cusip: | 48132WAG4
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