Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $253,000 10.5% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, May 16 – JPMorgan Chase Financial Co. LLC priced $253,000 of autocallable contingent interest notes due Oct. 3, 2024 linked to Apple Inc., Zoom Video Communications, Inc. and Advanced Micro Devices, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, 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 starting Dec. 30, 2021 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 any stock closes below its 50% final trigger level in which case investors will be fully exposed to the decline of the least 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: | Apple Inc., Zoom Video Communications, Inc. and Advanced Micro Devices, Inc.
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| Amount: | $253,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 10.5%, 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 unless any stock closes below its trigger level in which case investors will be fully exposed to the decline in the least performing stock
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| Call: | Automatically starting Dec. 30, 2021 and on any subsequent monthly review date if each stock closes at or above its initial level
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| Initial levels: | $141.50 for Apple, $261.50 for Zoom, $102.90 for AMD
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| Trigger levels: | $84.90 for Apple, $156.90 for Zoom, $61.74 for AMD, 60% of initial levels
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| Final trigger levels: | $70.75 for Apple, $130.75 for Zoom, $51.45 for AMD, 50% of initial levels
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| Pricing date: | Sept. 30, 2021
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| Settlement date: | Oct. 5, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48132W4J5
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