Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $605,000 21% autocallable contingent interest notes on stocks
Chicago, April 24 – JPMorgan Chase Financial Co. LLC priced $605,000 of autocallable contingent interest notes due May 30, 2023 linked to the least performing of the common stocks of Netflix, Inc., PayPal Holdings, Inc. and Walt Disney Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21%, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date.
The securities will be called automatically at par plus the coupon starting Aug. 24, 2022 and on any subsequent quarterly review date if all three stocks close above their initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 50% 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: | Netflix, Inc., PayPal Holdings, Inc. and Walt Disney Co.
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| Amount: | $605,000
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| Maturity: | May 30, 2023
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| Coupon: | 21% annual rate, paid monthly, if each underlying stock closes at or above its 50% trigger level on the related monthly observation date
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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 Aug. 24, 2022 and on any subsequent quarterly review date if all three stocks close above their initial levels
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| Initial levels: | $180.34 for Netflix, $78.65 for PayPal, $101.59 for Disney
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| Trigger levels: | $90.17 for Netflix, $39.325 for PayPal, $50.795 for Disney, 50% of initial levels
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| Pricing date: | May 24, 2022
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| Settlement date: | May 27, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48133GLA9
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