Published on 5/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.3 million 10.35% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, May 13 – JPMorgan Chase Financial Co. LLC priced $1.3 million of autocallable contingent interest notes due Oct. 3, 2024 linked to Caterpillar Inc., Workday, Inc. and DocuSign, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 10.35% per year if each stock closes at or above its trigger level, 50% of its initial level, on the observation date for that period.
If each stock closes at or above its initial level on any quarterly review date starting March 30, 2022, the securities will be automatically called at par.
At maturity, the payout will be par unless the least performing stock closes below its trigger level, in which case investors will be fully exposed to its decline from initial 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 contingent interest notes
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Underlying stock: | Caterpillar Inc., Workday, Inc. and DocuSign, Inc.
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Amount: | $1,302,000
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Maturity: | Oct. 3, 2024
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Coupon: | 10.35%, paid quarterly, if each underlying stock closes at or above its trigger level on the related observation date
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Price: | Par
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Payout at maturity: | Par unless least performing stock closes below its trigger level, in which case investors will be fully exposed to its decline
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Call: | Automatically at par starting March 30, 2022 and on any subsequent quarterly review date if each stock closes at or above its initial level
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Initial levels: | $191.97 for Caterpillar, $249.89 for Workday and $257.43 for DocuSign
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Trigger levels: | $95.985 for Caterpillar, $124.945 for Workday and $128.715 for DocuSign; 50% of initial levels
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Pricing date: | Sept. 30, 2021
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Settlement date: | Oct. 5, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48132W3A5
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