Published on 7/11/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $289,000 8.2% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, July 11 – JPMorgan Chase Financial Co. LLC priced $289,000 of autocallable contingent interest notes due Dec. 27, 2024 linked to the common stocks of T-Mobile US, Inc., Comcast Corp. and Verizon Communications Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.2%, paid quarterly, if the underlying stock closes at or above its 60% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting March 22, 2022 and on any subsequent quarterly review date.
At maturity, the payout will be par unless the stock closes below its 60% trigger level, in which case investors will be fully exposed to the decline of the least 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: | T-Mobile US, Inc., Comcast Corp. and Verizon Communications Inc.
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| Amount: | $289,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 8.2%, paid quarterly, if the underlying stock closes at or above its trigger level on the related quarterly observation date, plus any previously unpaid coupons
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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 the decline in least performing stock
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| Call: | Automatically at par starting March 22, 2022 and on any subsequent quarterly review date
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| Initial levels: | $120.56 for T-Mobile, $49.03 for Comcast, $52.77 for Verizon
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| Trigger levels: | $72.336 for T-Mobile, $29.418 for Comcast, $31.662 for Verizon, 60% of initial levels
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133CGH9
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