Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $305,000 autocallable contingent interest notes on three stocks
Chicago, Sept. 26 – JPMorgan Chase Financial Co. LLC priced $305,000 of autocallable contingent interest notes due Feb. 6, 2024 linked to the least performing of the common stocks of Costco Wholesale Corp., Home Depot, Inc. and Lowe’s Cos., Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid quarterly, if each underlying stock closes at or above its 70% coupon barrier level on the related observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically at par on any quarterly review date if the least performing stock closes at or above its initial level.
At maturity the payout will be par unless the least performing stock finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of that 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: | Costco Wholesale Corp., Home Depot, Inc. and Lowe’s Cos., Inc.
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| Amount: | $305,000
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| Maturity: | Feb. 6, 2024
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| Coupon: | 10.5% annual rate, paid quarterly, if each underlying stock closes at or above its coupon barrier level on the related quarterly observation date; previously unpaid coupons will also be paid
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| Price: | Par
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| Payout at maturity: | Par unless the least performing stock finishes below its trigger level, in which case investors will be fully exposed to the decline in that stock
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| Call: | Automatically at par on any quarterly review date if the least performing stock closes at or above its initial level
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| Initial levels: | $508.41 for Costco, $368.70 for Home Depot, $238.35 for Lowe’s
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| Coupon barrier levels: | $355.887 for Costco, $258.09 for Home Depot, $166.845 for Lowe’s; 70% of initial levels
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| Trigger levels: | $355.887 for Costco, $258.09 for Home Depot, $166.845 for Lowe’s; 70% of initial levels
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| Strike level: | Feb. 1
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48133CN24
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