Published on 4/11/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.05 million contingent interest autocalls on Microsoft, Meta, Goldman
By Wendy Van Sickle
Columbus, Ohio, April 11 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due April 10, 2024 linked to the least performing of the common stocks of Microsoft Corp., Meta Platforms, Inc. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13.8% if each stock closes at or above its 60% 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 review date other than the first through fifth and final dates.
The payout at maturity will be par unless any stock finishes below its 60% 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying stock: | Microsoft Corp., Meta Platforms, Inc. and Goldman Sachs Group, Inc.
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Amount: | $1,052,000
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Maturity: | April 10, 2024
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Coupon: | 13.8% annualized, payable monthly if each stock closes at or above coupon barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly review date other than the first through fifth and final dates
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Initial levels: | $231.84 for Meta, $310.88 for Microsoft and $323.96 for Goldman Sachs
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Coupon barrier levels: | $139.104 for Meta, $186.528 for Microsoft and $194.376 for Goldman Sachs, 60% of initial levels
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Trigger levels: | $139.104 for Meta, $186.528 for Microsoft and $194.376 for Goldman Sachs, 60% of initial levels
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Pricing date: | April 5
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Settlement date: | April 8
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133FHE8
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