Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 9.5% autocallable yield notes linked to banks
Chicago, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable yield notes due Nov. 9, 2023 linked to the least performing of the common stocks of Bank of America Corp., Morgan Stanley and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly.
The securities will be called automatically at par starting Nov. 4, 2022 and on any subsequent quarterly review date if each stock closes above its initial level.
If the worst performing stock ends above its 50% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines.
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 yield notes
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| Underlying stocks: | Bank of America Corp., Morgan Stanley and Wells Fargo & Co.
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| Amount: | $500,000
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| Maturity: | Nov. 9, 2023
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| Coupon: | 9.5% annual rate, paid monthly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level par; otherwise, 1% loss for every 1% that worst performing stock declines
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| Call: | Automatically at par starting Nov. 4, 2022 and on any subsequent quarterly review date if each stock closes above initial level
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| Initial levels: | $38.62 for BofA, $87.22 for Morgan Stanley, $45.98 for Wells Fargo
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| Downside thresholds: | $19.31 for BofA, $43.61 for Morgan Stanley, $22.99 for Wells Fargo, 50% of initial levels
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| Pricing date: | May 5, 2022
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| Settlement date: | May 10, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.3%
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| Cusip: | 48133FQ24
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