Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $649,000 13.5% autocallable contingent interest notes linked to stocks
Chicago, Oct. 25 – JPMorgan Chase Financial Co. LLC priced $649,000 of autocallable contingent interest notes due Feb. 27, 2025 linked to the least performing of the common stocks of Micron Technology, Inc., Morgan Stanley and United Airlines Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, 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 automatically at par starting Aug. 23, 2022 and on any subsequent quarterly review date if all three stocks close above their initial levels.
At maturity the payout will be par if either at least one stock closes above its initial level or all three stocks close above their 60% trigger levels.
Otherwise, 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: | Micron Technology, Inc., Morgan Stanley and United Airlines Holdings, Inc.
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| Amount: | $649,000
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| Maturity: | Feb. 27, 2025
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| Coupon: | 13.5% annual rate, paid monthly, if each underlying 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 if at least one stock closes above initial level or all stocks close above trigger levels; otherwise, investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par starting Aug. 23, 2022 and on any subsequent quarterly review date if all stocks close above initial levels
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| Initial levels: | $87.31 for Micron, $93.55 for Morgan Stanley, $43.85 for United
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| Trigger levels: | $52.386 for Micron, $56.13 for Morgan Stanley, $26.31 for United, 60% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133C3Q3
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