Published on 12/5/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 11.15% autocallable contingent interest notes on stocks
Chicago, Dec. 5 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due April 3, 2024 linked to the least performing of the common stocks of Goldman Sachs Group, Inc., PNC Financial Services Group, Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.15%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called at par automatically starting Sept. 28, 2022 and on any subsequent monthly review date if all three stocks close above their strike levels.
At maturity the payout will be par unless the worst performing stock closes below its 60% 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: | Goldman Sachs Group, Inc., PNC Financial Services Group, Inc. and Walmart Inc.
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| Amount: | $500,000
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| Maturity: | April 3, 2024
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| Coupon: | 11.15% annual rate, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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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 Sept. 28, 2022 and on any subsequent monthly review date if all three stocks close above their initial levels
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| Initial levels: | $335.30 for Goldman, $194.71 for PNC, $146.00 for Walmart
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| Trigger levels: | $201.18 for Goldman, $116.826 for PNC, $87.60 for Walmart, 60% of initial level
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| Pricing date: | March 29
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| Settlement date: | April 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48133DV80
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