Published on 8/30/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.01 million autocallable contingent interest notes on finance stocks
By William Gullotti
Buffalo, N.Y., Aug. 30 – JPMorgan Chase Financial Co. LLC sold $2.01 million of autocallable contingent interest notes due June 14, 2024 linked to the performance of the stocks of Bank of America Corp., Citigroup Inc. and Charles Schwab 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 quarterly coupon at an annual rate of 7.25% if each stock closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus coupon if each index closes at or above 95% of initial levels on any quarterly call date after six months.
The payout at maturity will be par plus the final coupon, unless any stock finishes below the 70% 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.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Bank of America Corp., Citigroup Inc., Charles Schwab Corp.
|
| Amount: | $2,005,000
|
| Maturity: | June 14, 2024
|
| Coupon: | 7.25% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| 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
|
| Call option: | Automatically at par plus coupon if each index finishes at or above 95% of initial levels on any quarterly call date after six months
|
| Initial levels: | $67.61 for Citi, $38.78 for BofA, $69.83 for Schwab
|
| Interest barriers: | $47.327 for Citi, $27.146 for BofA, $48.881 for Schwab; 70% of initial levels
|
| Trigger values: | $47.327 for Citi, $27.146 for BofA, $48.881 for Schwab; 70% of initial levels
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.75%
|
| Cusip: | 48132ULZ4
|
|
|
© 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.
