Published on 8/18/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.3 million autocallable contingent interest notes on credit card stocks
By William Gullotti
Buffalo, N.Y., Aug. 18 – JPMorgan Chase Financial Co. LLC sold $1.3 million of autocallable contingent interest notes due Aug. 15, 2024 linked to the performance of the stocks of Mastercard Inc., American Express Co. and Visa Inc., 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 quarterly coupon at an annual rate of 7.5% 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 automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly review date other than the final review date.
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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Mastercard Inc., American Express Co., Visa Inc.
|
| Amount: | $1,295,000
|
| Maturity: | Aug. 15, 2024
|
| Coupon: | 7.5% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| 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
|
| Call option: | Automatically at par plus the coupon if each stock closes at or above its initial share price on any quarterly review date other than the final review date
|
| Initial levels: | $170.67 for AmEx, $364.24 for Mastercard, $235.06 for Visa
|
| Interest barriers: | $110.9355 for AmEx, $236.756 for Mastercard, $152.789 for Visa; 65% of initial levels
|
| Trigger values: | $110.9355 for AmEx, $236.756 for Mastercard, $152.789 for Visa; 65% of initial levels
|
| Strike date: | Aug. 11
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.63%
|
| Cusip: | 48132WCF4
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
