Published on 10/27/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $763,000 9.2% autocallable yield notes on automaker stocks
Chicago, Oct. 27 – JPMorgan Chase Financial Co. LLC priced $763,000 of autocallable yield notes due Feb. 28, 2025 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 securities will be called automatically at par starting May 25 and on any subsequent monthly review date if all stocks close above their initial levels.
Investors will receive a coupon of 9.2%, paid monthly.
If any stock gains or all stocks end above their 60% downside thresholds, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines if it finishes below its downside threshold level.
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 yield notes
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| Underlying stocks: | Ford Motor Co., General Motors Co. and Tesla, Inc.
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| Amount: | $763,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 9.2%, paid monthly
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| Price: | Par
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| Payout at maturity: | If any stock gains or the worst performing stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Call: | Automatically at par starting May 25 and on any subsequent monthly review date if all three stocks close above their initial levels
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| Initial levels: | $17.83 for Ford, $47.43 for GM, $809.87 for Tesla
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| Downside thresholds: | $10.698 for Ford, $28.458 for GM, $485.922 for Tesla, 60% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | March 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48133DEK2
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