Published on 9/24/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $5.7 million autocallable contingent interest barrier notes on basket
By Kiku Steinfeld
Chicago, Sept. 26 – JPMorgan Chase Financial Co. LLC priced $5.7 million of autocallable contingent interest accelerated barrier notes due July 25, 2023 linked to an equally weighted basket consisting of ten stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The stocks are Coinbase Global, Inc., Advanced Micro Devices, Inc., Ford Motor Co., Nvidia Corp., Micron Technology, Inc., ServiceNow, Inc., Applied Materials, Inc., PayPal Holdings, Inc., Qualcomm Inc. and Boeing Co.
The notes pay a contingent quarterly coupon at an annual rate of 8.15% if the basket closes at or above its interest barrier value, 70% of its initial level, on the valuation date for that period.
The notes will be called at par if the basket closes at or above its initial level on any quarterly call valuation date.
The payout at maturity will be par plus 2 times any basket gain.
Investors will receive par if the basket falls by up to 40% and will lose 1% for each 1% decline from the initial level if the final basket value is less than the 60% barrier 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 contingent interest accelerated barrier notes
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| Underlying stocks: | Coinbase Global, Inc., Advanced Micro Devices, Inc., Ford Motor Co., Nvidia Corp., Micron Technology, Inc., Applied Materials, Inc., PayPal Holdings, Inc., Qualcomm Inc. and Boeing Co.; equally weighted
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| Amount: | $5,699,000
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| Maturity: | July 25, 2023
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| Coupon: | 8.15% per year, paid quarterly if basket closes at or above its interest barrier level on the valuation date for that period
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| Price: | Par
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| Payout at maturity: | Par plus 2 times any basket gain; if basket falls by up to 40%, par; otherwise, 1% loss for each 1% decline from initial basket level
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| Call: | Automatically at par if the basket closes at or above initial level on any quarterly call valuation date
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| Initial basket level: | $221.62 for Coinbase, $121.89 for AMD, $21.65 for Ford, $241.50 for Nvidia, $85.07 for Micron, $515.00 for Service, $139.15 for Applied, $173.28 for PayPal Holdings, $166.50 for Qualcomm and $214.19 for Boeing
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| Interest barrier level: | 70% of initial basket level
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| Barrier level: | 60% of initial basket level
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| Pricing date: | Jan. 20
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| Settlement date: | Jan. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48133CTT9
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