Published on 3/18/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.67 million autocallable contingent interest notes on three stocks
By William Gullotti
Buffalo, N.Y., March 18 – JPMorgan Chase Financial Co. LLC sold $1.67 million of autocallable contingent interest notes due March 20, 2025 linked to the performance of the stocks of Capital One Financial Corp., United Rentals, Inc. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 16.4% if each stock closes at or above its interest barrier level, 50% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call date after six months.
The payout at maturity will be par plus the final coupon, unless any stock finishes below the 50% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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: | Capital One Financial Corp., United Rentals, Inc., Advanced Micro Devices, Inc.
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Amount: | $1,673,000
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Maturity: | March 20, 2025
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Coupon: | 16.4% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
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Price: | Par
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Payout at maturity: | Par plus final coupon, unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
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Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date after six months
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Initial levels: | $134.27 for Capital One, $328.35 for United Rentals, $109.33 for AMD
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Interest barriers: | $67.135 for Capital One, $164.175 for United Rentals, $54.665 for AMD; 50% of initial levels
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Trigger values: | $67.135 for Capital One, $164.175 for United Rentals, $54.665 for AMD; 50% of initial levels
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Pricing date: | March 15
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Settlement date: | March 18
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133DUM0
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