Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $696,000 9% autocallable yield notes tied to DexCom, ServiceNow, Uber
Chicago, April 17 – JPMorgan Chase Financial Co. LLC priced $696,000 of autocallable yield notes due May 23, 2025 linked to the least performing of the common stocks of DexCom, Inc., ServiceNow, Inc. and Uber Technologies, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly.
The securities will be called automatically at par starting Aug. 22, 2022 if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
If the worst performing stock ends above its 60% downside threshold or any of the stocks ends above its initial value 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: | DexCom, Inc., ServiceNow, Inc. and Uber Technologies, Inc.
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| Amount: | $696,000
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| Maturity: | May 23, 2025
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| Coupon: | 9% annual rate, paid monthly
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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 or any of the stocks finishes above its initial value, par; otherwise, 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically at par starting Aug. 22, 2022 if the price of each underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $321.23 for DexCom, $433.03 for ServiceNow, $23.35 for Uber
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| Downside thresholds: | $192.738 for DexCom, $259.818 for ServiceNow, $14.01 for Uber, 60% of initial levels
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| Pricing date: | May 20, 2022
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| Settlement date: | May 25, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48133FV85
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