Published on 8/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $980,000 15% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, Aug. 25 – JPMorgan Chase Financial Co. LLC priced $980,000 of autocallable contingent interest notes due July 19, 2023 linked to the common stocks of DocuSign, Inc., salesforce.com, inc. and Oracle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid quarterly, if each stock closes at or above its 60% coupon barrier level on the related quarterly observation date, plus any previously unpaid coupons.
Starting April 14, 2022, the securities will be called automatically at par if each stock closes at or above its initial level on any quarterly review date.
At maturity the payout will be par unless any stock closes below its 50% 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: | DocuSign, Inc., salesforce.com, inc. and Oracle Corp.
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| Amount: | $980,000
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| Maturity: | July 19, 2023
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| Coupon: | 15%, paid quarterly, if each stock closes at or above its coupon barrier level on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its trigger level, in which case investors will be fully exposed to the decline in that stock
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| Call: | Starting April 14, 2022, automatically at par if each stock closes at or above its initial level on any quarterly review date
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| Initial level: | $130.44 for DocuSign, $231.23 for salesforce, $87.69 for Oracle
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| Coupon barrier level: | $78.264 for DocuSign, $138.738 for salesforce, $52.614 for Oracle, for DocuSign, for salesforce, for Oracle, 60% of initial level
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| Trigger level: | $65.22 for DocuSign, $115.615 for salesforce, $43.845 for Oracle, 50% of initial level
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| Pricing date: | Jan. 18
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| Settlement date: | Jan. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.55102%
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| Cusip: | 48133CTS1
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