Published on 6/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million autocallable contingent interest notes on fund, stocks
Chicago, June 22 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due March 13, 2023 linked to the least performing of the Financial Select Sector SPDR fund and the common stocks of Bank of America Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
A contingent interest of 12.5% per year will be payable if all assets close above their 75% interest barrier levels on any monthly review date. Previously unpaid coupons will also be paid.
The notes will be automatically called at par if all three assets close above their initial levels on any monthly review date after six months.
If the least performing asset finishes at or above the 75% barrier level, the payout at maturity will be par plus any interest payment due.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
The agent is J.P. Morgan Securities LLC.
| 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 assets: | Financial Select Sector SPDR fund, Bank of America Corp. and Goldman Sachs Group, Inc.
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| Amount: | $1,000,000
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| Maturity: | March 13, 2023
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| Coupon: | 12.5% annual rate, payable monthly if all assets close above interest barrier levels on related observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | If least performing asset finishes at or above barrier level, par plus any coupon due otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par if all assets close above initial levels on any monthly review date after six months
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| Initial levels: | $39.09 for fund, $44.16 for BofA, $397.32 for Goldman
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| Barrier levels: | $29.3175 for fund, $33.12 for BofA, $297.99 for Goldman; 75% of initial levels
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| Strike date: | Dec. 8, 2021
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| Pricing date: | Dec. 9, 2021
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| Settlement date: | Dec. 14, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48133CAC6
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