Published on 4/20/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.13 million uncapped digital barrier notes linked to three stocks
By William Gullotti
Buffalo, N.Y., April 20 – JPMorgan Chase Financial Co. LLC priced $1.13 million of 0% uncapped digital barrier notes due July 18, 2023 linked to the stock performance of Apple Inc., Bank of America Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing stock finishes at or above its initial level, the payout at maturity will be par plus the greater of the lesser performing stock’s return and the digital upside return of 19.5%.
If the final level of either stock is less than its initial level but the final level of each stock is greater than or equal to its barrier level, 75% of its initial level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Uncapped digital barrier notes
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| Underlying stocks: | Apple Inc., Bank of America Corp., Goldman Sachs Group, Inc.
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| Amount: | $1,132,000
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| Maturity: | July 18, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing stock finishes at or above initial level, par plus greater of lesser performing stock’s return and 19.5%; if final level of either stock is less than initial level but final level of each stock is greater than or equal to barrier level, par; otherwise, full exposure to decline of worst performer from initial level
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| Initial levels: | $170.40 for Apple, $38.82 for BofA, $321.97 for Goldman Sachs
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| Barrier levels: | $127.80 for Apple, $29.115 for BofA, $241.4775 for Goldman Sachs; 75% of initial levels
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| Pricing date: | April 13
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| Settlement date: | April 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133FGT6
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