Published on 8/12/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $677,000 14.5% contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, Aug. 12 – JPMorgan Chase Financial Co. LLC priced $677,000 of autocallable contingent interest notes due Jan. 16, 2025 linked to the common stocks of Amazon.com, Inc., Apple Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.5%, paid monthly, if each stock closes at or above its 50% trigger level on the related monthly observation date.
The securities will be called automatically at par starting Jan. 12, 2023 and on any subsequent monthly 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 50% trigger level, in which case investors will be fully exposed to the decline of that 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 stock: | Amazon.com, Inc., Apple Inc. and Tesla, Inc.
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| Amount: | $677,000
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| Maturity: | Jan. 16, 2025
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| Coupon: | 14.5%, paid monthly, if each stock closes at or above its trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless each stock closes below its trigger level, in which case investors will be fully exposed to the decline in least performing stock
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| Call: | Automatically at par starting Jan. 12, 2023 and on any subsequent monthly review date if each stock closes at or above its initial level
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| Initial level: | $3,304.14 for Amazon, $175.53 for Apple, $1,106.22 for Tesla
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| Trigger level: | $1,652.07 for Amazon, $87.765 for Apple, $553.11 for Tesla, 50% of initial level
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133CNP3
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