Published on 10/19/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.18 million 13% autocallable contingent interest notes on three stocks
Kiku Steinfeld
Chicago, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $1.18 million of autocallable contingent interest notes due Feb. 21, 2025 linked to the common stocks of Meta Platforms, Inc., Generac Holdings Inc. and Qualcomm Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
Starting May 18, the securities will be called automatically at par if each stock closes at or above its initial share price on any monthly review date.
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: | Meta Platforms, Inc., Generac Holdings Inc. and Qualcomm Inc.
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| Amount: | $1,176,000
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| Maturity: | Feb. 21, 2025
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| Coupon: | 13%, 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 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: | Starting May 18, automatically at par if each stock closes at or above initial share price on any monthly review date
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| Initial levels: | $206.16 for Meta., $294.76 for Generac, $167.64 for Qualcomm
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| Trigger levels: | $123.696 for Meta., $176.856 for Generac, $100.584 for Qualcomm, 60% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48133CT51
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