Published on 3/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.26 million 12.9% contingent interest autocalls on three tech stocks
By Kiku Steinfeld
Chicago, March 25 – JPMorgan Chase Financial Co. LLC priced $1.26 million of autocallable contingent interest notes due Sept. 19, 2024 linked to the least performing of the common stocks of Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.9% if each stock closes at or above its 75% coupon barrier on the review date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 65% trigger level, in which case investors will be fully exposed to any losses of the worst 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 stock: | Amazon.com, Inc., Apple Inc., Microsoft Corp.
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| Amount: | $1,264,000
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| Maturity: | Sept. 19, 2024
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| Coupon: | 12.9% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any stock closes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any quarterly review date other than final date
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| Initial levels: | $3,488.24 for Amazon, $148.79 for Apple, $305.22 for Microsoft
|
| Coupon barrier levels: | $2,616.18 for Amazon, $111.5925 for Apple, $228.915 for Microsoft; 75% of initial levels
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| Trigger levels: | $2,267.356 for Amazon, $96.7135 for Apple, $198.393 for Microsoft; 65% of initial levels
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| Strike Date: | Sept. 16
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48132WVD8
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