Published on 5/17/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.93 million autocallable contingent interest notes on three stocks
Chicago, May 17 – JPMorgan Chase Financial Co. LLC priced $1.93 million of autocallable contingent interest notes due Oct. 25, 2023 linked to the least performing of the common stocks of Uber Technologies, Inc., Ford Motor Co. and Airbnb, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.25%, paid quarterly, if each underlying stock closes at or above its 60% interest barrier level on the related observation date. Previously unpaid coupons will also be paid.
The securities will be called automatically 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 60% final trigger level in which case investors will be fully exposed to the decline of the least 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: | Uber Technologies, Inc., Ford Motor Co. and Airbnb, Inc.
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Amount: | $1,930,000
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Maturity: | Oct. 25, 2023
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Coupon: | 15.25% annual rate, paid quarterly, if each underlying stock closes at or above its interest barrier level on the related observation date; previously unpaid coupons will also be paid
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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 in the least performing stock
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Call: | Automatically on any quarterly review date if each stock closes at or above its initial level
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Initial levels: | $46 for Uber, $16.04 for Ford, $169.76 for Airbnb
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Interest barrier levels: | $27.60 for Uber, $9.624 for Ford, $101.856 for Airbnb; 60% of initial levels
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Trigger levels: | $27.60 for Uber, $9.624 for Ford, $101.856 for Airbnb; 60% of initial levels
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Strike date: | Oct. 20, 2021
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Pricing date: | Oct. 21, 2021
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Settlement date: | Oct. 26, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48132YGC3
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