Published on 10/18/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.11 million review notes tied to three stocks
By William Gullotti
Buffalo, N.Y., Oct. 18 – JPMorgan Chase Financial Co. LLC priced $6.11 million of 0% review notes due Oct. 9, 2026 linked to the performance of the stocks of Bristol-Myers Squibb Co., Eli Lilly & Co. and Thermo Fisher Scientific Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 21% if each stock closes at or above its initial level on any quarterly review date after one year.
If each stock finishes at or above its 70% trigger level, the payout at maturity will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Review notes
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| Underlying stocks: | Bristol-Myers Squibb Co., Eli Lilly & Co., Thermo Fisher Scientific Inc.
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| Amount: | $6,112,000
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| Maturity: | Oct. 9, 2026
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline of worst performing stock from its initial level
|
| Call: | At par plus 21% per year if each stock closes at or above its initial level on any quarterly review date after one year
|
| Initial levels: | $57.26 for Bristol-Myers, $233.94 for Eli Lilly, $583.92 for Thermo Fisher
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| Trigger levels: | $40.082 for Bristol-Myers, $163.758 for Eli Lilly, $408.744 for Thermo Fisher; 70% of initial levels
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| Strike date: | Oct. 8
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
|
| Cusip: | 48132YBF1
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