Published on 4/24/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $382,000 11.55% contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, April 25 – JPMorgan Chase Financial Co. LLC priced $382,000 of autocallable contingent interest notes due Oct. 2, 2024 linked to the least performing of the common stocks of Invesco Ltd., Toll Brothers, Inc. and Ford Motor Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.55% if each stock closes at or above its 55% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly call review date after six months.
The payout at maturity will be par unless any stock finishes below its 55% trigger level, in which case investors will be fully exposed to any losses 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
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying stocks: | Invesco Ltd., Toll Brothers, Inc. and Ford Motor Co.
|
| Amount: | $382,000
|
| Maturity: | Oct. 2, 2024
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| Coupon: | 11.55% annualized, payable monthly if each stock closes at or above 55% coupon barrier on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock closes below 55% trigger, in which case 1% loss for each 1% decline of worst performing stock
|
| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly call review date after six months
|
| Initial levels: | $25.56 for Invesco, $60.62 for Toll, $14.16 for Ford
|
| Trigger levels: | $15.336 for Invesco $36.372, for Toll, $8.496 for Ford; 55% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 3%
|
| Cusip: | 48132WLM9
|
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