Published on 12/15/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $174,000 12.2% autocallable contingent interest notes on bank stocks
By Kiku Steinfeld
Chicago, Dec. 15 – JPMorgan Chase Financial Co. LLC priced $174,000 of autocallable contingent interest notes due April 17, 2025 linked to the common stocks of Capital One Financial Corp., Fifth Third Bancorp. and First Republic Bank, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.2%, paid quarterly, if each underlying 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 at par starting July 14 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 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
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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., Fifth Third Bancorp., and First Republic Bank
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Amount: | $174,000
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Maturity: | April 17, 2025
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Coupon: | 12.2%, paid quarterly, if each 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 worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically at par starting July 14 and on any subsequent quarterly review date if each stock closes at or above its initial level
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Initial levels: | $132.59 for Capital, $39.01 for Fifth, $160.75 for First
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Trigger levels: | $79.554 for Capital, $23.406 for Fifth, $96.45 for First, 60% of initial level
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Pricing date: | April 18
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Settlement date: | April 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48133FPK5
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