Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $186,000 autocallable contingent interest notes on finance stocks
Chicago, June 7 – JPMorgan Chase Financial Co. LLC priced $186,000 of autocallable contingent interest notes due Nov. 22, 2024 linked to the least performing of the common stocks of Charles Schwab Corp., State Street Corp. and Raymond James Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75%, paid quarterly, if each underlying stock closes at or above its 70% interest barrier level on the related observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically at par plus the interest payment due on any quarterly 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 70% 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: | Charles Schwab Corp., State Street Corp. and Raymond James Financial, Inc.
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| Amount: | $186,000
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| Maturity: | Nov. 22, 2024
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| Coupon: | 8.75% annual rate, paid quarterly, if each underlying stock closes at or above its interest barrier level on the related observation date; previously unpaid coupons will also be paid
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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 at par on any quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $80.17 for Schwab, $94.75 for State Street, $98.14 for Raymond James
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| Interest barrier levels: | $56.119 for Schwab, $66.325 for State Street, $68.698 for Raymond James; 70% of initial levels
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| Trigger levels: | $56.119 for Schwab, $66.325 for State Street, $68.698 for Raymond James; 70% of initial levels
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| Pricing date: | Nov. 22, 2021
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| Settlement date: | Nov. 26, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48132YZH1
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