Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 26.5% contingent interest autocalls on ETF, stock, index
By Kiku Steinfeld
Chicago, Nov. 22 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due March 26, 2024 linked to the ARK Innovation ETF, Euro Stoxx 50 index and Boeing Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 26.5%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par starting Sept. 21, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | ARK Innovation ETF, Euro Stoxx 50 index and Boeing Co.
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| Amount: | $500,000
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| Maturity: | March 26, 2024
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| Coupon: | 26.5%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically at par starting Sept. 21, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $63.98 for ARK, 3,881.80 for Euro Stoxx, $185.90 for Boeing
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| Trigger levels: | $38.388 for ARK, 2,329.08 for Euro Stoxx, $111.54 for Boeing, 60% of initial levels
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| Coupon barriers: | $44.786 for ARK, 2,717.26 for Euro Stoxx, $130.13 for Boeing, 70% of initial levels
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133D3E8
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