Published on 10/4/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 10.85% autocallable yield notes linked to three stocks
By Kiku Steinfeld
Chicago, Oct. 4 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable yield notes due Aug. 16, 2023 linked to the common stocks of Newmont Corp., Freeport-McMoRan Inc. and Dow Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par starting March 13, 2023 and on any subsequent monthly review date if each stock closes at or above its initial level.
Investors will receive a coupon of 10.85%, paid monthly.
If the least performing stock gains or ends at or above its 60% downside threshold, the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the least performing stock declines if it finishes below its downside threshold level.
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 yield notes
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| Underlying stocks: | Newmont Corp., Freeport-McMoRan Inc. and Dow Inc.
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| Amount: | $250,000
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| Maturity: | Aug. 16, 2023
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| Coupon: | 10.85%, paid monthly
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| Price: | Par
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| Payout at maturity: | If least performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that least performing stock declines if it finishes below its downside threshold level
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| Call: | Automatically par starting March 13, 2023 and on any subsequent monthly review date if each stock closes at or above its initial level
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| Initial level: | $63.86 for Newmont, $42.80 for Freeport, $61.09 for Dow
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| Downside threshold: | $38.316 for Newmont, $25.68 for Freeport, $36.654 for Dow, 60% of initial level
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133DBN9
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