Published on 10/1/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 10.65% autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, Oct. 3 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable yield notes due Aug. 15, 2023 linked to the stocks of Nvidia Corp., Seagate Technology Holdings plc and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par starting March 10, 2023 and on any subsequent monthly review date if the least performing stock closes at or above its initial level.
Investors will receive a coupon of 10.65%, paid monthly.
If the least performing stock finishes above its 60% downside threshold level, the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the least performing stock declines if it finishes below its downside threshold 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: | Autocallable yield notes
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Underlying stocks: | Nvidia Corp., Seagate Technology Holdings plc and Microsoft Corp.
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Amount: | $250,000
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Maturity: | Aug. 15, 2023
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Coupon: | 10.65%, paid monthly
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Price: | Par
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Payout at maturity: | If least performing finishes at or above its downside threshold level, par; 1% loss for every 1% that least performing stock declines if it finishes below its downside threshold level
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Call: | Automatically at par starting March 10, 2023 and on any subsequent monthly review date if the least performing stock closes at or above its initial level
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Initial level: | $258.24 for Nvidia, $110.08 for Seagate, $302.38 for Microsoft
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Downside threshold: | $154.944 for Nvidia, $66.048 for Seagate, $181.428 for Microsoft, 60% of initial levels
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Pricing date: | Feb. 11
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Settlement date: | Feb. 16
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133DAX8
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