Published on 2/9/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $340,000 autocallable contingent interest notes on bank stocks
Chicago, Feb. 9 – JPMorgan Chase Financial Co. LLC sold $340,000 of autocallable contingent interest notes due April 18, 2024 linked to the least performing of the stocks of Capital One Financial Corp., Wells Fargo & Co. and Citigroup 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 8% if each stock closes at or above its interest barrier level, 60% of its initial level, on the corresponding review date. Previously unpaid coupons will also be paid.
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.
The payout at maturity will be par plus the final coupon if each stock finishes at or above the 60% trigger value. Otherwise, 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: | Capital One Financial Corp., Wells Fargo & Co. and Citigroup Inc.
|
| Amount: | $340,000
|
| Maturity: | April 18, 2024
|
| Coupon: | 8% annualized, payable quarterly if each underlying stock closes at or above interest barrier level on relevant observation date; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above trigger level, par plus final coupon; otherwise, full exposure to decline of worst performer from initial level
|
| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date
|
| Initial levels: | $134.87 for Capital One, $42.24 for Wells Fargo, $72.54 for Citigroup
|
| Interest barriers: | $80.922 for Capital One, $25.344 for Wells Fargo, $43.524 for Citigroup; 60% of initial levels
|
| Trigger values: | $80.922 for Capital One, $25.344 for Wells Fargo, $43.524 for Citigroup; 60% of initial levels
|
| Strike date: | April 15
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.4%
|
| Cusip: | 48132TWV4
|
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