Published on 12/1/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $495,000 9.42% autocallable yield notes linked to tech stocks
Chicago, Dec. 1 – JPMorgan Chase Financial Co. LLC priced $495,000 of autocallable yield notes due March 21, 2024 linked to the least performing of the common stocks of Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.42%, paid quarterly.
The securities will be called automatically at par starting June 16 and on any subsequent quarterly review date if each stock closes above its initial level.
If the worst performing stock ends above its 70% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines.
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 yield notes
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| Underlying stocks: | Amazon.com, Inc., Apple Inc. and Microsoft Corp.
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| Amount: | $495,000
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| Maturity: | March 21, 2024
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| Coupon: | 9.42% annual rate, paid quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically at par starting June 16 and on any subsequent quarterly review date if all stocks close above initial levels
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| Initial levels: | $3,062.08 for Amazon, $159.59 for Apple, $294.39 for Microsoft
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| Downside thresholds: | $2,143.456 for Amazon, $111.713 for Apple, $206.073 for Microsoft, 70% of initial levels
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| Pricing date: | March 17
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| Settlement date: | March 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48133D3L2
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