Published on 8/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $306,000 10.8% autocallable contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $306,000 of autocallable contingent interest notes due Jan. 16, 2025 linked to the common stocks of Baker Hughes Co., ConocoPhillips and Exxon Mobil Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.8%, paid quarterly, if the each stock closes at or above its 60% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par on any quarterly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless any stock closes below its trigger level, in which case investors will be fully exposed to the decline of the lesser 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: | Baker Hughes Co., ConocoPhillips and Exxon Mobil Corp.
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| Amount: | $306,000
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| Maturity: | Jan. 16, 2025
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| Coupon: | 10.8%, paid quarterly, if each stock closes at or above its trigger level on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its trigger level, in which case investors will be fully exposed to the decline of the lesser performing stock
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| Call: | Automatically at par on any quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $26.73 for Baker, $84.40 for Conoco, $71.14 for Exxon
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| Trigger levels: | $16.038 for Baker, $50.64 for Conoco, $42.684 for Exxon, 60% of initial levels
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133CSM5
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