Published on 6/17/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 autocallable contingent interest notes on three stocks
By William Gullotti
Buffalo, N.Y., June 17 – JPMorgan Chase Financial Co. LLC sold $500,000 of autocallable contingent interest notes due June 14, 2024 linked to the lesser performing of the Ford Motor Co., the FedEx Corp. and the Boeing Co., 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 12% if each stock closes at or above its interest barrier level, 65% of its initial level, on the review date for that month.
The notes will be callable at par plus coupon on quarterly call date after six months.
The payout at maturity will be par plus the final coupon, unless any stock finishes below the 65% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Ford Motor Co., FedEx Corp., Boeing Co.
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| Amount: | $500,000
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| Maturity: | June 14, 2024
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| Coupon: | 12% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month
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| Price: | Par
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| 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
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| Call option: | At par plus coupon on any quarterly call date after six months
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| Initial levels: | $296.09 for FedEx, $15.28 for Ford, $247.28 for Boeing
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| Interest barriers: | $192.4585 for FedEx, $9.932 for Ford, $160.732 for Boeing; 65% of initial levels
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| Trigger values: | $192.4585 for FedEx, $9.932 for Ford, $160.732 for Boeing; 65% of initial levels
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| Pricing date: | June 11
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| Settlement date: | June 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48132UHT3
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