Published on 9/23/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $659,000 autocallable contingent interest notes on four stocks
Chicago, Sept. 23 – JPMorgan Chase Financial Co. LLC priced $659,000 of autocallable contingent interest notes due Jan. 31, 2025 linked to the common stocks of Mastercard Inc., Visa Inc., Block, Inc. and PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18.5%, paid quarterly, if each underlying stock closes at or above its 60% coupon barrier level on the related observation date.
The securities will be called automatically at par on any quarterly review date after six months if the least performing stock closes at or above its initial level.
At maturity the payout will be par unless the least performing stock finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of that 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: | Mastercard Inc., Visa Inc., Block, Inc. and PayPal Holdings, Inc.
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| Amount: | $659,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 18.5% annual rate, paid quarterly, if each underlying stock closes at or above its coupon barrier level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the least performing stock finishes below its trigger level, in which case investors will be fully exposed to the decline in that stock
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| Call: | Automatically at par on any quarterly review date after six months if the least performing stock closes at or above its initial level
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| Initial levels: | $382.51 for Mastercard, $228 for Visa, $110.38 for Block, $163.52 for PayPal
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| Coupon barrier levels: | $229.506 for Mastercard, $136.80 for Visa, $66.228 for Block, $98.112 for PayPal; 60% of initial levels
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| Trigger levels: | $229.506 for Mastercard, $136.80 for Visa, $66.228 for Block, $98.112 for PayPal; 60% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48133CXN7
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