Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $315,000 autocallable contingent interest notes on beverage stocks
Chicago, Oct. 25 – JPMorgan Chase Financial Co. LLC priced $315,000 of autocallable contingent interest notes due Feb. 21, 2025 linked to the least performing of the American Depositary Shares of Anheuser-Busch InBev SA/NV, the class A common stock of Constellation Brands, Inc. and PepsiCo, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.75%, paid quarterly, if each underlying stock closes at or above its 70% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting May 18 and on any subsequent quarterly review date if all three stocks close above their initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 70% trigger level in which case 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: | Anheuser-Busch InBev SA/NV, Constellation Brands, Inc. and PepsiCo, Inc.
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| Amount: | $315,000
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| Maturity: | Feb. 21, 2025
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| Coupon: | 11.75% annual rate, paid quarterly, if each underlying stock closes at or above its 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 unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par starting May 18 and on any subsequent quarterly review date if all stocks close above their initial levels
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| Initial levels: | $63.05 Anheuser-Busch, $215.85 for Constellation, $167.71 for PepsiCo
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| Trigger levels: | $44.135 Anheuser-Busch, $151.095 for Constellation, $117.397 for PepsiCo, 70% of initial levels
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| Pricing date: | Feb. 22
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| Settlement date: | Feb. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133DGH7
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