Published on 7/19/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $550,000 13.6% autocallable contingent interest notes on stocks
By Kiku Steinfeld
Chicago, July 19 – JPMorgan Chase Financial Co. LLC priced $550,000 of autocallable contingent interest notes due Jan. 3, 2025 linked to the common stocks of Wynn Resorts, Ltd., Visa Inc. and Guardant Health Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.6%, paid monthly, if each stock closes at or above its trigger level on the related monthly observation date.
Starting June 28, 2022, the securities will be called automatically at par if each stock closes at or above its initial share price on any quarterly review date.
At maturity the payout will be par unless the lowest performing stock closes below its 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: | Wynn Resorts, Ltd., Visa Inc. and Guardant Health, Inc.
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| Amount: | $550,000
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| Maturity: | Jan. 3, 2025
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| Coupon: | 13.6%, paid monthly, if each stock closes at or above its trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its trigger level, in which case investors will be fully exposed to the decline in the lowest performing stock
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| Call: | Starting June 28, 2022, automatically at par if each stock closes at or above its initial share price on any quarterly review date
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| Initial levels: | $86.46 for Wynn, $218.05 for Visa, $96.01 for Guardant
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| Trigger levels: | $43.23 for Wynn, $109.025 for Visa, $48.005 for Guardant; 50% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Dec. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132Y3G8
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