Published on 6/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $400,000 contingent interest autocallables linked to FedEx
By Angela McDaniels
Tacoma, Wash., June 12 – JPMorgan Chase Financial Co. LLC priced $400,000 of autocallable contingent interest notes due July 17, 2023 linked to the common stock of FedEx Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 15% per year if FedEx stock closes at or above the interest barrier, 70% of the initial share price, on the review date for that quarter.
The notes will be automatically called at par if the stock closes at or above the initial share price on Oct. 12, 2022, Jan. 12, 2023 or April 12, 2023.
The payout at maturity will be par unless the stock finishes below the trigger value, 70% of the initial share price, in which case investors will be exposed to the stock’s decline from its initial share price.
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: | FedEx Corp.
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| Amount: | $400,000
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| Maturity: | July 17, 2023
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| Coupon: | 15% per year, payable quarterly if FedEx stock closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below trigger value, in which case exposure to stock’s decline from initial share price
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| Call: | Automatically at par if stock closes at or above initial share price on Oct. 12, 2022, Jan. 12, 2023 or April 12, 2023
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| Initial share price: | $222.98
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| Interest barrier: | $156.086, or 70% of initial share price
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| Trigger value barrier: | $156.086, or 70% of initial share price
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| Pricing date: | July 12, 2022
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| Settlement date: | July 15, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.85%
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| Cusip: | 48133LQL9
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