Published on 9/30/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.42 million autocallable contingent interest notes on three stocks
By William Gullotti
Buffalo, N.Y., Sept. 30 – JPMorgan Chase Financial Co. LLC sold $5.42 million of autocallable contingent interest notes due Sept. 25, 2025 linked to the performance of the stocks of Alcoa Corp., Advanced Micro Devices, Inc. and Lennar 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 monthly coupon at an annual rate of 16.3% if each stock closes at or above its interest barrier level, 60% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level 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 60% 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: | Alcoa Corp., Advanced Micro Devices, Inc., Lennar Corp.
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Amount: | $5,422,000
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Maturity: | Sept. 25, 2025
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Coupon: | 16.3% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
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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: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date after six months
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Initial levels: | $45.60 for Alcoa, $102.82 for AMD, $97.77 for Lennar
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Interest barriers: | $27.36 for Alcoa, $61.692 for AMD, $58.662 for Lennar; 60% of initial levels
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Trigger values: | $27.36 for Alcoa, $61.692 for AMD, $58.662 for Lennar; 60% of initial levels
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Pricing date: | Sept. 21
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Settlement date: | Sept. 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48132WUA5
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