Published on 5/28/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.71 million autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, May 28 – JPMorgan Chase Financial Co. LLC priced $2.71 million of 7.3% autocallable yield notes due Nov. 10, 2022 linked to the worst performing of the shares of Applied Materials, Inc., Expedia Group, Inc. and Spotify Technology SA, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest rate will payable monthly.
The notes will be called at par if each stock closes at or above its call level on any monthly review date starting Sept. 7. The call level for each stock will be 95% of its initial level.
The payout at maturity will be par unless any stock finishes below its trigger level, 50% of its initial level, in which case investors will be fully exposed to the decline of the least performing stock.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying stocks: | Applied Materials, Inc., Expedia Group, Inc. and Spotify Technology SA
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| Amount: | $2,714,000
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| Maturity: | Nov. 10, 2022
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| Coupon: | 7.3% per year, payable monthly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below its trigger level, in which case full exposure to decline of worst performing stock
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| Call: | Notes will be called at par if each stock closes at or above 95% of its initial level on any monthly review date starting Sept. 7
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| Initial levels: | $131.73 for Applied, $164.82 Expedia, $237.04 for Spotify
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| Trigger levels: | $65.865 for Applied, $82.41 for Expedia, $118.52 for Spotify; 50% of initial levels
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| Pricing date: | May 7
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| Settlement date: | May 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.65%
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| Cusip: | 48132TP67
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