Published on 9/3/2019 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2 million callable contingent coupon notes on three equity indexes
Chicago, Sept. 3 – Citigroup Global Markets Holdings Inc. priced $2 million callable contingent coupon equity-linked securities due Aug. 10, 2022 tied to the worst performing of the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly coupon at an annualized rate of 7.95% if the worst performing index closes above its 70% coupon barrier value on the relevant valuation date.
The notes may be called at par plus the coupon, in whole but not in part, at the option of the issuer on any quarterly contingent coupon payment date.
The payout at maturity will be par plus any coupon due if the worst performing index closes above its 60% final barrier value.
Otherwise investors will be fully exposed to the losses of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent coupon equity-linked securities
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| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average
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| Amount: | $2,000,000
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| Maturity: | Aug. 10, 2022
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| Coupon: | 7.95% annualized rate, payable quarterly is worst performing index closes above 70% coupon barrier value
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| Price: | Par
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| Payout at maturity: | Par plus any coupon due if worst performing index closes above 60% final barrier value, otherwise full exposure to losses of worst performing index
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| Call: | At par plus any coupon due at option of issuer on any quarterly contingent coupon payment date
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| Initial levels: | 7,415.691 for Nasdaq, 1,487.414 for Russell and 25,717.74 for Dow
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| Coupon barrier levels: | 5,190.984 for Nasdaq, 1,041.190 for Russell and 18,002.418 for Dow, 70% of initial levels
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| Final barrier values: | 4,449.415 for Nasdaq, 892.448 for Russell and 15,430.644 for Dow, 60% of initial levels
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| Pricing date: | Aug. 5
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| Settlement date: | Aug. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.55%
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| Cusip: | 17327THM1
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