Published on 6/28/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $250,000 autocallable contingent interest notes on three stocks
Chicago, June 28 – JPMorgan Chase Financial Co. LLC sold $250,000 of autocallable contingent interest notes due Dec. 14, 2023 linked to the performance of the stocks of NIKE, Inc., Walmart Inc. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each stock closes at or above its interest barrier level, 56.5% of its initial level, on the corresponding review date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
The notes will be called automatically on any quarterly review date if each stock closes at or above its call level. The call level starts at 100% and reduces 2% each quarterly review date.
If the notes are not called and each stock finishes at or above its 56.5% trigger value, the payout will be par plus all unpaid coupons.
Otherwise, investors will lose 1% for each 1% decline of the worst performing stock from its initial level.
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: | NIKE, Inc., Walmart Inc. and Target Corp.
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| Amount: | $250,000
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| Maturity: | Dec. 14, 2023
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| Coupon: | 7%, paid quarterly, if each underlying 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: | If each stock finishes at or above trigger value, par plus all unpaid coupons; otherwise, full exposure to decline of worst performer from initial level
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| Call option: | Automatically at par on any quarterly review date if each stock closes at or above call level; call level starts at 100% and reduces 2% each quarterly review date
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| Initial levels: | $168.1 for NIKE, $138.5 for Walmart, $237.56 for Target
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| Interest barriers: | $94.9765 for NIKE, $78.2525 for Walmart, $134.2214 for Target; 56.5% of initial levels
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| Trigger values: | $94.9765 for NIKE, $78.2525 for Walmart, $134.2214 for Target; 56.5% of initial levels
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| Pricing date: | Dec. 10, 2021
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| Settlement date: | Dec. 15, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.6%
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| Cusip: | 48133CAP7
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