Published on 10/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 17.4% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, Oct. 21 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Aug. 22, 2023 linked to the common stocks of Roblox Corp., Electronic Arts Inc. and Take-Two Interactive Software, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.4%, paid monthly, if each underlying stock closes at or above its 55% trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par starting March 17, 2023 and on any subsequent monthly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless the worst performing stock closes below its 55% 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: | Roblox Corp., Electronic Arts Inc. and Take-Two Interactive Software, Inc.
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Amount: | $250,000
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Maturity: | Aug. 22, 2023
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Coupon: | 17.4%, paid monthly, if each underlying stock closes at or above its 55% trigger level on the related monthly observation date, plus any previously unpaid coupons
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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 March 17, 2023 and on any subsequent monthly review date if each stock closes at or above its initial level
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Initial levels: | $54.49 for Roblox, $130.40 for Electronic, $162.13 for Take-Two
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Trigger levels: | $29.9695 for Roblox, $71.72 for Electronic, $89.1715 for Take-Two, 55% of initial levels
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Pricing date: | Feb. 18
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Settlement date: | Feb. 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133DFQ8
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