Published on 11/17/2023 in the Prospect News Structured Products Daily.
New Issue: Jefferies prices $1 million contingent coupon autocallables linked to three indexes
By Angela McDaniels
Tacoma, Wash., Nov. 17 – Jefferies Financial Group Inc. priced $1 million of senior autocallable contingent coupon barrier notes due Nov. 2, 2028 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
Beginning one year after the pricing date, the notes will be automatically called at par if the worst performing index closes at or above its initial level on a quarterly observation date.
The payout at maturity will be par unless the final level of the worst performing index is less than its threshold level, 60% of its initial level, in which case investors will be exposed to the decline of the worst performing index from its initial level.
Jefferies LLC is the agent.
Issuer: | Jefferies Financial Group Inc.
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Issue: | Senior autocallable contingent coupon barrier notes
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Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $1 million
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Maturity: | Nov. 2, 2028
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Coupon: | 10% per year, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless final level of worst performing index is less than threshold level, in which case exposure to decline of worst performing index from initial level
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Call: | Beginning one year after the pricing date, automatically at par if worst performing index closes at or above initial level on any quarterly observation date
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Initial levels: | 4,117.37 for S&P, 1,636.938 for Russell, 14,180.42 for Nasdaq
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Coupon barriers: 2,882.16 for S&P, 1,145.857 for Russell, 9,926.29 for Nasdaq, or 70% of initial levels
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Threshold levels: | 2,470.42 for S&P, 982.163 for Russell, 8,508.25 for Nasdaq, or 60% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Oct. 31
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Agent: | Jefferies LLC
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Fees: | 3.5%
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Cusip: | 47233WCH0
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