Published on 5/24/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $575,000 17% autocallable contingent interest notes linked to AMD, Visa
Chicago, May 24 – JPMorgan Chase Financial Co. LLC priced $575,000 of autocallable contingent interest notes due Jan. 3, 2024 linked to the lesser performing of the stocks of Advanced Micro Devices, Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17%, paid quarterly, if each 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 Sept. 28, 2022 and on any subsequent quarterly review date if both stocks close above their initial levels.
At maturity the payout will be par plus any coupon if at least one stock closes above its initial level or both stocks close above their 60% trigger levels. Otherwise, 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: | Advanced Micro Devices, Inc. and Visa Inc. class A
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| Amount: | $575,000
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| Maturity: | Jan. 3, 2024
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| Coupon: | 17% annual rate, paid quarterly, if each underlying stock closes at or above its 60% 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 if at least one stock closes above initial level or both stocks close above trigger levels; otherwise, full exposure to losses of worst performer
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| Call: | Automatically at par starting Sept. 28, 2022 and on any subsequent quarterly review date if both stocks close above initial levels
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| Initial levels: | $80.78 for AMD, $198.12 for Visa
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| Trigger levels: | $48.468 for AMD, $118.872 for Visa, 60% of initial levels
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| Pricing date: | June 29, 2022
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| Settlement date: | July 7, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.4%
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| Cusip: | 48133LAY8
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