Published on 6/15/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $600,000 autocallable contingent interest notes on three stocks
Chicago, June 15 – JPMorgan Chase Financial Co. LLC sold $600,000 of autocallable contingent interest notes due Dec. 11, 2024 linked to the least performing of the stocks of Qualcomm Inc., Tesla, Inc. and Wal-Mart Stores, 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 monthly coupon at an annual rate of 19.2% if each stock closes at or above its interest barrier level, 60% of its initial level, on the corresponding review date.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any monthly review date after three months.
If the notes are not called and each stock finishes at or above its 60% trigger value, the payout will be par plus the coupon.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from its initial 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: | Qualcomm Inc., Tesla, Inc. and Wal-Mart Stores, Inc.
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| Amount: | $600,000
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| Maturity: | Dec. 11, 2024
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| Coupon: | 19.2% annualized, payable monthly if each underlying stock closes at or above interest barrier level on relevant observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger value, par plus coupon; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | Automatically at par plus coupon if each stock closes at or above initial level on any monthly review date after three months
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| Initial levels: | $175.45 for Qualcomm, $1,009.01 for Tesla, $139 for Wal-Mart
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| Interest barriers: | $105.27 for Qualcomm, $605.406 for Tesla, $83.40 for Wal-Mart; 60% of initial levels
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| Trigger values: | $105.27 for Qualcomm, $605.406 for Tesla, $83.40 for Wal-Mart; 60% of initial levels
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| Pricing date: | Dec. 6, 2021
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| Settlement date: | Dec. 9, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132YK53
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