Published on 8/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $250,000 autocallable contingent interest notes on three stocks
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC sold $250,000 of autocallable contingent interest notes due Dec. 27, 2024 linked to the least performing of the stocks of Tesla, Inc., Ford Motor Co. and General Motors Co., 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 21.1% if each stock closes at or above its interest barrier level, 70% of its initial level, on the corresponding review date.
The notes will be called automatically at par on any monthly review date starting after six months if each stock closes at or above its initial level.
If the notes are not called and each stock finishes at or above its 50% trigger value, the payout will be par.
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: | Tesla, Inc., Ford Motor Co. and General Motors Co.
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| Amount: | $250,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 21.1% annual rate, paid monthly, if each underlying stock closes at or above its interest barrier level on the related 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; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par on any monthly review date after six months if each stock closes at or above initial level
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| Initial levels: | $1,008.87 for Tesla, $20.14 for Ford, $56.08 for GM
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| Interest barriers: | $706.209 for Tesla, $14.098 for Ford, $39.256 for GM; 70% of initial levels
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| Trigger values: | $504.435 for Tesla, $10.07 for Ford, $28.04 for GM; 50% of initial levels
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| Pricing date: | Dec. 22, 2021
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| Settlement date: | Dec. 28, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48133CFG2
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