Published on 3/28/2024 in the Prospect News Structured Products Daily.
New Issue: Jefferies sells $9.23 million autocallable contingent coupon barrier notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, March 28 – Jefferies Financial Group Inc. priced $9.23 million of autocallable contingent coupon barrier notes due March 27, 2029 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at the rate of 8.5% per year if the worst performing index closes at or above its coupon barrier level, 70% of its initial level, on the relevant observation date.
The notes will be called at par plus coupon if the worst performing index closes at or above its initial level on any quarterly observation date after one year.
If the notes are not called, the payout at maturity will be par plus the final coupon, if any, unless the worst performing index finishes below its 55% trigger level, in which case investors will be fully 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: | Autocallable contingent coupon barrier notes
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Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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Amount: | $9,234,000
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Maturity: | March 27, 2029
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Coupon: | 8.5%, payable quarterly if worst performing index closes at or above coupon barrier level on the relevant observation date
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Price: | Par
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Payout at maturity: | If all indexes finish at or above the trigger level, par plus the final coupon; otherwise, investors will be fully exposed to the worst performing index from its initial level
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Call: | At par plus coupon if each index closes at or above initial level on any quarterly observation date after one year
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Initial levels: | 2,071.998 for Russell, 5,234.18 for S&P, 39,475.9 for Dow
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Coupon barriers: | 1,450.399 for Russell, 3,663.92 for S&P, 27,633.13 for Dow; 70% of initial levels
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Trigger levels: | 1,139.599 for Russell, 2,878.8 for S&P, 21,711.75 for Dow; 55% of initial levels
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Pricing date: | March 22
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Settlement date: | March 27
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Agent: | Jefferies LLC
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Fees: | 0%
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Cusip: | 47233WDN6
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