Published on 10/19/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $667,000 contingent interest autocalls on three stocks
By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $667,000 of autocallable contingent interest notes due Jan. 31, 2023 linked to the least performing of the common stocks of Ford Motor Co., General Motors Co. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 15% if each stock closes at or above its 70% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par unless any stock finishes below its 50% trigger level, in which case investors will be fully exposed to any losses 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 stock: | Ford Motor Co., General Motors Co. and Tesla, Inc.
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| Amount: | $667,000
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| Maturity: | Jan. 31, 2023
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| Coupon: | 15% annualized, payable monthly plus any previously unpaid coupons if each stock closes at or above coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly review date other than the first, second and final dates
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| Initial levels: | $14.03 for Ford, $55.77 for General Motors and $657.62 for Tesla
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| Coupon barrier levels: | $9.821 for Ford, $39.039 for General Motors and $460.334 for Tesla, 70% of initial levels
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| Trigger levels: | $7.015 for Ford, $27.885 for General Motors and $328.81 for Tesla, 50% of initial levels
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| Pricing date: | July 26
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| Settlement date: | July 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48132U3Y7
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