Published on 11/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $601,000 16.3% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, Nov. 21 – JPMorgan Chase Financial Co. LLC priced $601,000 of autocallable contingent interest notes due March 21, 2025 linked to the common stocks of Expedia Group, Inc., Royal Caribbean Cruises Ltd. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.3%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par starting June 21 and on any subsequent monthly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Expedia Group, Inc., Royal Caribbean Cruises Ltd. and Goldman Sachs Group, Inc.
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| Amount: | $601,000
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| Maturity: | March 21, 2025
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| Coupon: | 16.3%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par starting June 21 and on any subsequent monthly review date if each stock closes at or above its initial level
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| Initial levels: | $193.18 for Expedia, $76.18 for Royal, $345.38 for Goldman
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| Trigger levels: | $115.908 for Expedia, $45.708 for Royal, $207.228 for Goldman, 60% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48133DTU4
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