Published on 2/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $300,000 autocallable contingent interest notes on financial stocks
By William Gullotti
Buffalo, N.Y., Feb. 7 – JPMorgan Chase Financial Co. LLC priced $300,000 of autocallable contingent interest notes due April 13, 2023 linked to the least performing of the common stocks of Goldman Sachs Group, Inc., Citigroup Inc. and Visa Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 11.5% if each stock closes at or above its interest barrier level, 75% of its strike level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each stock closes at or above its strike level on any quarterly review date other than the first, second and final dates.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 75% trigger value, in which case investors will lose 1% for each 1% decline from the worst performer’s strike level.
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: | Goldman Sachs Group, Inc., Citigroup Inc., Visa Inc.
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| Amount: | $300,000
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| Maturity: | April 13, 2023
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| Coupon: | 11.5% annualized, payable quarterly if each stock closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of least performing stock from strike level
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above strike level on any quarterly review date other than the first, second and final
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| Strike levels: | $326.55 for Goldman Sachs, $72.69 for Citigroup, $219.27 for Visa
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| Interest barrier: | $244.9125 for Goldman Sachs, $54.5175 for Citigroup, $164.4525 for Visa; 75% of strike values
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| Trigger levels: | $244.9125 for Goldman Sachs, $54.5175 for Citigroup, $164.4525 for Visa; 75% of strike values
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| Strike date: | April 7
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| Pricing date: | April 8
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| Settlement date: | April 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48132TTQ9
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