Published on 6/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.25 million autocallable contingent interest notes on three stocks
Chicago, June 7 – JPMorgan Chase Financial Co. LLC priced $1.25 million of autocallable contingent interest notes due Nov. 1, 2024 linked to the least performing of the common stocks of SoFi Technologies, Inc. and Opendoor Technologies Inc. and the class C capital stock of Zillow Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 25.5%, paid monthly, if each underlying stock closes at or above its 60% interest barrier level on the related observation date.
The securities will be called automatically at par plus the interest payment due on any monthly review date after three months 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: | SoFi Technologies, Inc., Opendoor Technologies Inc. and Zillow Group, Inc.
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Amount: | $1,249,000
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Maturity: | Nov. 1, 2024
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Coupon: | 25.5% annual rate, paid monthly, if each underlying stock closes at or above its interest barrier level on the related observation date
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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 at par on any monthly review date after three months if each stock closes at or above its initial level
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Initial levels: | $20.09 for SoFi, $23.71 for Opendoor, $103.63 for Zillow
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Interest barrier levels: | $12.054 for SoFi, $14.226 for Opendoor, $62.178 for Zillow; 60% of initial levels
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Trigger levels: | $12.054 for SoFi, $14.226 for Opendoor, $62.178 for Zillow; 60% of initial levels
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Pricing date: | Oct. 29, 2021
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Settlement date: | Nov. 3, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.25%
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Cusip: | 48132YKA2
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