Published on 8/4/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $319,000 10% contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, Aug. 4 – JPMorgan Chase Financial Co. LLC priced $319,000 of autocallable contingent interest notes due Jan. 9, 2025 linked to the common stocks of Lennar Corp., PulteGroup, Inc. and D.R. Horton, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if the underlying stock closes at or above its 65% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting April 6, 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 stock closes below its 65% trigger level, in which case investors will be fully exposed to the decline of the 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: | Lennar Corp., PulteGroup, Inc. and D.R. Horton, Inc.
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| Amount: | $319,000
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| Maturity: | Jan. 9, 2025
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| Coupon: | 10%, paid quarterly, if the underlying 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 the stock closes below its trigger level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically at par starting April 6, 2022 and on any subsequent quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $108.07 for Lennar, $55.03 for Pulte, $101.50 for D.R. Horton
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| Trigger levels: | $70.2455 for Lennar, $35.7695 for Pulte, $65.975 for D.R. Horton, 65% of initial levels
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133CPG1
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