Published on 1/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $508,000 15.35% autocallable contingent interest notes on stocks
Chicago, Jan. 27 – JPMorgan Chase Financial Co. LLC priced $508,000 of autocallable contingent interest notes due May 1, 2025 linked to the least performing of the common stocks of Applied Materials, Inc., Qualcomm Inc. and Goodyear Tire & Rubber Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.35%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par starting Oct. 26, 2022 and on any subsequent quarterly review date if all three stocks close above their initial levels.
At maturity the payout will be par if any one stock closes above its initial level or if all stocks finish above their 60% trigger levels. Otherwise, investors will be fully exposed to the decline 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 stocks: | Applied Materials, Inc., Qualcomm Inc. and Goodyear Tire & Rubber Co.
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| Amount: | $508,000
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| Maturity: | May 1, 2025
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| Coupon: | 15.35% annual rate, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if at least one stock closes above its initial level or all three stocks close above their trigger levels; otherwise, full exposure to decline of worst performer
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| Call: | Automatically at par starting Oct. 26, 2022 and on any subsequent quarterly review date if all three stocks close above initial levels
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| Initial levels: | $108.92 for Applied Materials, $133.50 for Qualcomm, $12.95 for Goodyear
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| Trigger levels: | $65.352 for Applied Materials, $80.10 for Qualcomm, $7.77 for Goodyear, 60% of initial levels
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| Pricing date: | April 26, 2022
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| Settlement date: | April 29, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133FBN4
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