Published on 7/2/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 9.75% autocallable contingent interest notes on two stocks
By Kiku Steinfeld
Chicago, July 5 – JPMorgan Chase Financial Co. LLC priced $600,000 of autocallable contingent interest notes due June 27, 2024 linked to the common stocks of Microsoft Corp. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid monthly, if each stock closes at or above its 70% interest barrier on the related monthly observation date.
The securities will be called automatically at par starting Dec. 22, 2022 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 lowest performing stock closes below its 65% trigger level, in which case investors will be fully exposed to its decline.
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: | Microsoft Corp. and Walt Disney Co.
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Amount: | $600,000
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Maturity: | June 27, 2024
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Coupon: | 9.75%, paid monthly, if the underlying stock closes at or above its interest barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the lowest performing stock closes 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 starting Dec. 22, 2022 and on any subsequent monthly review date if each stock closes at or above its initial level
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Initial levels: | $333.20 for Microsoft, $151.88 for Disney
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Interest barriers: | $233.24 for Microsoft, $106.316 for Disney, 70% of initial levels
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Trigger levels: | $216.58 for Microsoft, $98.722 for Disney, 65% of initial levels
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Pricing date: | Dec. 22, 2021
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Settlement date: | Dec. 28, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.7%
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Cusip: | 48133CFW7
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