Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 15.5% autocallable contingent interest notes on big box stores
Chicago, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due May 8, 2024 linked to the least performing of the common stocks of Costco Wholesale Corp., Lowe's Cos., Inc. and Home Depot, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.5%, paid quarterly, if each underlying stock closes at or above its 60% trigger level on the related quarterly observation date.
The securities will be called automatically at par starting Aug. 3, 2022 and on any subsequent quarterly review date if each stock closes above its initial level.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case 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: | Costco Wholesale Corp., Lowe's Cos., Inc. and Home Depot, Inc.
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| Amount: | $500,000
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| Maturity: | May 8, 2024
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| Coupon: | 15.5% annual rate, paid quarterly, if each underlying stock closes at or above its 60% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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| Call: | Automatically at par starting Aug. 3, 2022 and on any subsequent quarterly review date if all stocks close above initial levels
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| Initial levels: | $528.08 for Costco, $201.63 for Lowe's, $304.96 for Home Depot
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| Trigger levels: | $316.848 for Costco, $120.978 for Lowe's, $182.976 for Home Depot, 60% of initial levels
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| Pricing date: | May 4, 2022
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| Settlement date: | May 9, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133FM77
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