Published on 7/19/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.14 million 10.35% contingent interest autocallables on two stocks
By Kiku Steinfeld
Chicago, July 19 – JPMorgan Chase Financial Co. LLC priced $1.14 million of autocallable contingent interest notes due Jan. 3, 2025 linked to the common stocks of Amazon.com, Inc. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.35%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date.
Starting June 28, 2022, the securities will be called automatically at par if each stock closes at or above its call price, 90% of its initial share price, on any quarterly review date.
At maturity the payout will be par unless the lowest performing stock finishes below its 70% trigger 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 stocks: | Amazon.com, Inc. and Intel Corp.
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| Amount: | $1.14 million
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| Maturity: | Jan. 3, 2025
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| Coupon: | 10.35%, paid quarterly, if each underlying stock closes at or above its trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the lowest performing stock finishes below its trigger level, in which case investors will be fully exposed to the decline in the lowest performing stock
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| Call: | Starting June 28, 2022, automatically at par if each stock closes at or above its call price, 90% of its initial share price, on any quarterly review date
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| Initial levels: | $3,413.22 for Amazon, $51.76 for Intel
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| Trigger levels: | $2,389.254 for Amazon, $36.232 for Intel, 70% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48133CFZ0
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