Published on 8/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $700,000 12.5% autocallable contingent interest notes on three tech stocks
By Kiku Steinfeld
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $700,000 of autocallable contingent interest notes due Jan. 18, 2024 linked to the common stocks of Microsoft Corp., Nvidia Corp. and Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if the least performing stock closes at or above its 60% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting April 12, 2022 at par 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 any stock closes below its trigger level, in which case investors will be fully exposed to the decline of the least performing 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: | Microsoft Corp., Nvidia Corp. and Alphabet Inc.
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| Amount: | $700,000
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| Maturity: | Jan. 18, 2024
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| Coupon: | 12.5%, paid quarterly, if the least performing stock closes at or above its trigger level on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its trigger level, in which case investors will be fully exposed to the decline of the least performing stock
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| Call: | Automatically starting April 12, 2022 at par and on any subsequent quarterly review date if each stock closes at or above its initial level
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| Initial level: | $318.27 for Microsoft, $2,828.61 for Alphabet, $279.99 for Nvidia
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| Trigger level: | $190.962 for Microsoft, $1,697.166 for Alphabet, $167.994 for Nvidia, 60% of of initial levels
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.15%
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| Cusip: | 48133CSQ6
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