Published on 4/17/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $353,000 contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, April 18 – JPMorgan Chase Financial Co. LLC priced $353,000 of autocallable contingent interest notes due Sept. 27, 2024 linked to the least performing of the stocks of Coca-Cola Co., Mondelez International, Inc. and Kraft Heinz Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each stock closes at or above its 70% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 70% trigger level, in which case investors will be fully exposed to any losses 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: | Coca-Cola Co., Mondelez International, Inc. and Kraft Heinz Co.
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| Amount: | $353,000
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| Maturity: | Sept. 27, 2024
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| Coupon: | 8% annualized, payable quarterly if each stock closes at or above 70% coupon barrier on review date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 70% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on any review date other than final date
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| Initial levels: | $53.89 for Coca-Cola, $60.36 for Mondelez, $36.39 for Kraft
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| Trigger levels: | $37.723 for Coca-Cola, $42.252 for Mondelez, $25.473 for Kraft; 70% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48132W3K3
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