Published on 12/19/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.14 million callable contingent interest notes on three finance stocks
New York, Dec. 19 – JPMorgan Chase Financial Co. LLC priced $1.14 million of callable contingent interest notes due Dec. 16, 2027 linked to the common stocks of Comerica Inc., KeyCorp and PNC Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16%, paid quarterly, if each underlying stock closes at or above its 65% interest barrier on the related quarterly observation date.
The securities may be called at par on any quarterly review date.
If the worst performing stock finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines from its initial level.
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: | Callable contingent interest notes
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| Underlying stocks: | Comerica Inc., KeyCorp and PNC Financial Services Group, Inc.
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| Amount: | $1,142,000
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| Maturity: | Dec. 16, 2027
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| Coupon: | 16%, paid quarterly, if each underlying stock closes at or above its 65% interest barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its trigger level, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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| Call option: | At par on any quarterly review date
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| Initial levels: | $66.29 for Comerica Inc., $17.30 for KeyCorp, $154.04 for PNC Financial Services Group, Inc.
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| Interest barriers: | $43.0885 for Comerica Inc., $11.245 for KeyCorp, $100.126 for PNC Financial Services Group, Inc., 65% of initial level
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| Trigger levels: | $39.774 for Comerica Inc., $10.38 for KeyCorp, $92.424 for PNC Financial Services Group, Inc., 60% of initial level
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| Pricing date: | Dec. 13
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| Settlement date: | Dec. 15
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.75%
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| Cusip: | 48133PYG2
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