Published on 8/12/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.39 million 21.5% autocallable contingent interest notes linked to stocks
New York, Aug. 12 – JPMorgan Chase Financial Co. LLC priced $1.39 million of autocallable contingent interest notes due Aug. 14, 2025 linked to least performing of the common stocks of Tesla, Inc., Apple Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.5%, paid monthly, if the laggard underlying stock closes at or above its interest barrier, 70% of its initial level, on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Aug. 9, 2023 and on any subsequent monthly review date if each stock closes above its initial level.
At maturity the payout will be par unless the laggard stock closes below its trigger level, 50% of its initial level, in which case investors will be fully exposed to the decline of that stock.
The notes are guaranteed by JPMorgan Chase & Co.
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 contingent interest notes
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| Underlying stock: | Tesla, Inc., Apple Inc. and Amazon.com, Inc.
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| Amount: | $1.39 million
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| Maturity: | Aug. 14, 2025
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| Coupon: | 21.5%, paid monthly, if the laggard stock closes at or above its interest barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the laggard stock closes below its trigger level in which case investors will be fully exposed to the decline in that stock
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| Call: | Automatically starting Aug. 9, 2023 and on any subsequent monthly review date if each stock closes above initial level
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| Initial levels: | $850.00 for Tesla, $164.92 for Apple, $137.83 for Amazon
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| Interest barriers: | $595.00 for Tesla, $115.44 for Apple, $96.481 for Amazon, 70% of initial levels
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| Trigger levels: | $425.00 for Tesla, $82.46 for Apple, $68.915 for Amazon, 50% of initial levels
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133LYS5
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