Published on 5/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 16% autocallable contingent interest notes index, stocks
Chicago, May 13 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Oct. 11, 2023 linked to the least performing of the Russell 2000 index, the common stock of Microsoft Corp. and the common stock of General Motors Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16%, paid quarterly, if each underlier closes at or above its 70% interest barrier level on the related quarterly observation date.
The securities will be called automatically at par starting Jan. 5, 2022 and on any subsequent quarterly review date if all three assets finish above their initial levels.
At maturity the payout will be par unless each asset closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Russell 2000 index, Microsoft Corp. and General Motors Co.
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| Amount: | $500,000
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| Maturity: | Oct. 11, 2023
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| Coupon: | 16% annual rate, paid quarterly, if each underlier closes at or above its interest barrier level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call: | Automatically at par starting Jan. 5, 2022 and on any subsequent quarterly review date if all three assets finish above their initial levels
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| Initial levels: | 2,228.358 for Russell, $288.76 for Microsoft, $54.34 for GM
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| Interest barrier levels: | 1,559.8506 for Russell, $202.132 for Microsoft, $38.038 for GM; 70% of initial levels
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| Trigger levels: | 1,559.8506 for Russell, $202.132 for Microsoft, $38.038 for GM; 70% of initial levels
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| Pricing date: | Oct. 6, 2021
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| Settlement date: | Oct. 12, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48132WW54
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