Published on 10/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $400,000 17.75% autocallable contingent interest notes on stocks
Chicago, Oct. 25 – JPMorgan Chase Financial Co. LLC priced $400,000 of autocallable contingent interest notes due Nov. 29, 2023 linked to the common stocks of Apple Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.75%, paid monthly, if each underlying stock closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically at par starting May 24 and on any subsequent monthly review date if all three stocks close above their initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 70% 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: | Apple Inc., Alphabet Inc. and Microsoft Corp.
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| Amount: | $400,000
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| Maturity: | Nov. 29, 2023
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| Coupon: | 17.75% annual rate, paid monthly, if each underlying stock closes at or above its trigger level on the related monthly 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 May 24 and on any subsequent monthly review date if all three stocks close above initial levels
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| Initial levels: | $162.74 for Apple, $2,653.82 for Alphabet, $294.59 for Microsoft
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| Trigger levels: | $113.918 for Apple, $1,857.674 for Alphabet, $206.213 for Microsoft, 70% of initial levels
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| Pricing date: | Feb. 24
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| Settlement date: | March 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.7%
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| Cusip: | 48133DHZ6
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