Published on 8/26/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.08 million 10.4% autocallable contingent interest notes on three stocks
Chicago, Aug. 26 – JPMorgan Chase Financial Co. LLC priced $1.08 million of autocallable contingent interest notes due Jan. 23, 2024 linked to the common stocks of Costco Wholesale Corp., Home Depot, Inc. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.4%, paid quarterly, if each stock closes at or above its 75% coupon barrier level on the related quarterly observation date, plus any previously unpaid coupons.
Quarterly, the securities will be called automatically at par if each stock closes at or above its initial level on any related review date.
At maturity the payout will be par unless any stock closes below its 75% 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 stocks: | Costco Wholesale Corp., Home Depot, Inc. and Walmart Inc.
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| Amount: | $1,080,000
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| Maturity: | Jan. 23, 2024
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| Coupon: | 10.4% annual rate, paid quarterly, if each stock closes at or above its coupon barrier 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 in that stock
|
| Call: | Automatically at par if each stock closes at or above its initial level on any quarterly review date
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| Initial levels: | $488.07 for Costco, $366.72 for Home Depot, $142.52 for Walmart
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| Coupon barrier levels: | $366.0525 for Costco, $275.04 for Home Depot, $106.89 for Walmart, 75% of initial levels
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| Trigger levels: | $366.0525 for Costco, $275.04 for Home Depot, $106.89 for Walmart, 75% of initial levels
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| Strike date: | Jan. 18
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133CUS9
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