Published on 7/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.16 million autocallable contingent interest notes on stocks
Chicago, July 25 – JPMorgan Chase Financial Co. LLC sold $4.16 million of autocallable contingent interest notes due Dec. 20, 2024 linked to the performance of the worst performing of the stocks of Alcoa Corp., Ford Motor Co. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 15.5% if each stock closes at or above its interest barrier level, 60% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call date after six months.
If the notes are not called and each stock finishes at or above its 60% trigger value, the payout will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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: | Alcoa Corp., Ford Motor Co. and Nvidia Corp.
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| Amount: | $4,162,000
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| Maturity: | Dec. 20, 2024
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| Coupon: | 15.5% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger value, par plus final coupon; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly call date after six months
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| Initial levels: | $53.73 for Alcoa, $19.77 for Ford, $278.01 for Nvidia
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| Interest barriers: | $32.238 for Alcoa, $11.862 for Ford, $166.806 for Nvidia; 60% of initial levels
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| Trigger values: | $32.238 for Alcoa, $11.862 for Ford, $166.806 for Nvidia; 60% of initial levels
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| Pricing date: | Dec. 17, 2021
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| Settlement date: | Dec. 22, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133CBZ4
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