JPMorgan Launches Auto Callable Notes Linked to Robinhood
JPMorgan Chase Financial Company LLC has launched a new financial product called Auto Callable Contingent Interest Notes Linked to Robinhood Markets, Inc.
The notes are fully and unconditionally guaranteed by JPMorgan Chase & Co. and have a principal amount of $50,000.
Investors who purchase the notes will receive a Contingent Interest Payment with respect to each Review Date for which the closing price of one share of Robinhood's Class A Common Stock is greater than or equal to 50% of the Initial Value, which is $51.755.
The notes will be automatically called if the closing price of one share of Robinhood's Class A Common Stock on any Review Date (other than the first through fifth and final Review Dates) is greater than or equal to the Initial Value, which triggers a cash payment for each $1,000 principal amount note.