Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $900,000 0% callable contingent interest notes linked to Halliburton
New York, April 24 – JPMorgan Chase Financial Co. LLC priced $900,000 of callable contingent interest notes due Feb. 1, 2023 linked to the common stock of Halliburton Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent interest payment if the stock closes at or above the interest barrier, 50% of its initial share price, on the review date. The contingent interest rate is 8.15% over the term of the notes, payable at a rate of (i) 3.05% for the Sept. 1, 2022 and Dec. 1, 2022 interest payment dates and (ii) 2.05% for the maturity date.
If the stock gains or ends above its 50% downside threshold, the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The securities may be called at par on Sept. 1, 2022 or Dec. 1, 2022.
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: | Callable contingent interest notes
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| Underlying stock: | Halliburton Co.
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| Amount: | $900,000
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| Maturity: | Feb. 1, 2023
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| Coupon: | 8.15% over term of notes, payable at rate of (i) 3.05% for Sept. 1, 2022 and Dec. 1, 2022 interest payment dates and (ii) 2.05% for maturity date if stock closes at or above interest barrier on that review date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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| Call: | At par on Sept. 1, 2022 or Dec. 1, 2022
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| Initial level: | $41.36
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| Interest barrier: | $20.68, 50% of initial level
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| Downside threshold: | $20.68, 50% of initial level
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| Pricing date: | May 27, 2022
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| Settlement date: | June 2, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133GGM9
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