Published on 9/16/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $410,000 autocallable contingent interest notes linked to Boeing
New York, Sept. 16 – JPMorgan Chase Financial Co. LLC priced $410,000 of autocallable contingent interest notes due June 28, 2022 linked to the common stock of Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
If Boeing stock closes at or above the trigger price – 60% of the initial share price – on a monthly review date, the issuer will pay a contingent coupon for that month at the rate of 9%. Otherwise, no coupon will be paid that month.
If the shares close at or above the initial price on a monthly review date, the notes will be called at par plus the contingent coupon.
If the notes are not called and Boeing shares finish at or above the trigger price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be exposed to the share price decline from the initial price. The final stock price will be the average of the closing share prices on the five trading days ending on the final review date.
J.P. Morgan Securities LLC is the underwriter.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Issue: | Autocallable contingent interest notes
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| Underlying stock: | Boeing Co. (NYSE: BA)
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| Amount: | $410,000
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| Maturity: | June 28, 2022
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| Coupon: | 9%, payable monthly if stock closes at or above trigger price on review date for that month
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus contingent coupon if Boeing shares finish at or above trigger price; otherwise, par plus stock return
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| Call: | Automatically at par plus contingent coupon if Boeing shares close at or above initial price on a monthly review date
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| Review dates: | April 23, 2021, May 24, 2021, June 23, 2021, July 23, 2021, Aug. 23, 2021, Sept. 23, 2021, Oct. 25, 2021, Nov. 23, 2021, Dec. 23, 2021, Jan. 24, 2022, Feb. 23, 2022, March 23, 2022, April 25, 2022, May 23, 2022 and June 23, 2022
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| Initial share price: | $241.25
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| Trigger price: | $144.75, 60% of initial price
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| Pricing date: | March 23
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| Settlement date: | March 26
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| Underwriters: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48132TJX5
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