Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $13,000 12.25% autocallable contingent interest notes on stocks
Chicago, April 26 – JPMorgan Chase Financial Co. LLC priced $13,000 of autocallable contingent interest notes due May 30, 2025 linked to the least performing of the common stocks of Blackstone Inc., FedEx Corp. and Tenet Healthcare Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.25%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par starting Nov. 25, 2022 and on any subsequent quarterly review date if each of the three stocks closes above its initial level.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying stocks: | Blackstone Inc., FedEx Corp. and Tenet Healthcare Corp.
|
Amount: | $13,000
|
Maturity: | May 30, 2025
|
Coupon: | 12.25% annual rate, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
|
Call: | Automatically at par starting Nov. 25, 2022 and on any subsequent quarterly review date if all three stocks close above their initial levels
|
Initial levels: | $111.05 for Blackstone, $204.31 for FedEx, $62.73 for Tenet
|
Trigger levels: | $66.63 for Blackstone, $122.586 for FedEx, $37.638 for Tenet, 60% of initial levels
|
Pricing date: | May 25, 2022
|
Settlement date: | May 31, 2022
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3%
|
Cusip: | 48133F2Q7
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.