Published on 8/11/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.59 million autocallable contingent interest notes on three stocks
By William Gullotti
Buffalo, N.Y., Aug. 11 – JPMorgan Chase Financial Co. LLC priced $2.59 million of autocallable contingent interest notes due May 16, 2024 linked to the least performing of the common stocks of Mosaic Co., Nvidia Corp. and Wynn Resorts, Ltd., 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 monthly coupon at an annual rate of 16.4% if each stock closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date after six months.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 50% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Mosaic Co., Nvidia Corp., Wynn Resorts, Ltd.
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| Amount: | $2,592,000
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| Maturity: | May 16, 2024
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| Coupon: | 16.4% annualized, payable monthly if each stock closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from initial level
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial level on any quarterly review date after six months
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| Initial levels: | $37.06 for Mosaic, $566.62 for Nvidia, $124.73 for Wynn
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| Interest barrier levels: | $25.942 for Mosaic, $396.634 for Nvidia, $87.311 for Wynn; 70% of initial values
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| Trigger levels: | $18.53 for Mosaic, $283.31 for Nvidia, $62.365 for Wynn; 50% of initial values
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| Pricing date: | May 17
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| Settlement date: | May 20
|
| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132TW77
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