Published on 11/11/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.17 million review notes on basket of airline stocks
By Wendy Van Sickle
Columbus, Ohio, Nov. 11 – JPMorgan Chase Financial Co. LLC priced $2.17 million of 0% review notes due Nov. 10, 2026 linked to an equally weighted basket of four airline stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks include Delta Air Lines, Inc., Southwest Airlines Co., United Airlines Holdings, Inc. and Alaska Air Group, Inc.
The notes will be automatically called at par plus a call premium of 7.25% per year if the basket closes at or above its initial level on any annual review date.
If the basket finishes below its initial level but at or above the 60% barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline in the basket 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: | Review notes
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| Underlying stocks: | Delta Air Lines, Inc., Southwest Airlines Co., United Airlines Holdings, Inc. and Alaska Air Group, Inc., equal weights
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| Amount: | $2,168,000
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| Maturity: | Nov. 10, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes at or above barrier level, par; otherwise, investors will lose 1% for every 1% decline in the basket from its initial level
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| Call: | Automatically at par plus call premium of 7.25% per year if basket closes at or above initial level on any annual review date
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| Initial level: | $44.29 for Delta, $52.23 for Southwest, $52.71 for Unites, $59.35 for Alaska
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| Barrier level: | 60% of initial level
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| Pricing date: | Nov. 5
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| Settlement date: | Nov. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.75%
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| Cusip: | 48132YC60
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