Published on 10/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 14.7% contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, Oct. 13 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Aug. 21, 2023 linked to the common stocks of Devon Energy Corp., Schlumberger NV and Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.7%, paid monthly, if the underlying stock closes at or above its 60% trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting March 16, 2023 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 stock closes below its 60% trigger level, in which case investors will be fully exposed to the decline of the 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: | Devon Energy Corp., Schlumberger NV and Exxon Mobil Corp.
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| Amount: | $250,000
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| Maturity: | Aug. 21, 2023
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| Coupon: | 14.7%, paid monthly, if the underlying stock closes at or above its trigger level on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its trigger level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically at par starting March 16, 2023 and on any subsequent monthly review date if each stock closes at or above its initial level
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| Initial levels: | $53.85 for Devon, $41.69 for Schlumberger, $78.35 for Exxon
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| Trigger levels: | $32.31 for Devon, $25.014 for Schlumberger, $47.01 for Exxon, 60% of initial levels
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| Pricing date: | Feb. 17
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| Settlement date: | Feb. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133DEX4
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