Published on 8/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.16 million 14.1% contingent interest autocallables on three stocks
By Kiku Steinfeld
Chicago, Aug. 8 – JPMorgan Chase Financial Co. LLC priced $1.16 million of autocallable contingent interest notes due Jan. 14, 2027 linked to the shares of Exxon Mobil Corp., EOG Resources, Inc. and Royal Dutch Shell plc, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.1%, paid quarterly, if the underlying stock closes at or above its 65% coupon trigger level on the related quarterly observation date.
The securities will be called automatically at par starting April 11, 2022 and on any subsequent quarterly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless the least performing stock closes below its 60% 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 stock: | Exxon Mobil Corp., EOG Resources, Inc. and Royal Dutch Shell plc
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| Amount: | $1.16 million
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| Maturity: | Jan. 14, 2027
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| Coupon: | 14.1%, paid quarterly, if the least performing stock closes at or above its coupon trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the least performing stock closes below its 60% trigger level, in which case investors will be fully exposed to the decline of that stock
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| Call: | Automatically par starting April 11, 2022 and on any subsequent quarterly review date if each stock closes at or above its initial level
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| Initial level: | $102.20 for EOG, $71.35 for Exxon, $48.49 for Royal Dutch Shell
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| Coupon trigger levels: | $66.43 for EOG, $46.3775 for Exxon, $31.5185 for Royal Dutch Shell, 65% of initial levels
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| Trigger levels: | $61.32 for EOG, $42.81 for Exxon, $29.094 for Royal Dutch Shell, 60% of initial levels
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| Pricing date: | Jan. 11
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| Settlement date: | Jan. 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.65108%
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| Cusip: | 48133CB68
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