Published on 4/11/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $300,000 contingent interest autocalls on tech stocks
By Kiku Steinfeld
Chicago, April 11 – JPMorgan Chase Financial Co. LLC priced $300,000 of autocallable contingent interest notes due Sept. 28, 2023 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc. and Netflix, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.85% if each stock closes at or above its 70% 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 first and final dates.
The payout at maturity will be par unless any stock finishes below its 70% 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 stocks: | Apple Inc., Amazon.com and Netflix, Inc.
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| Amount: | $300,000
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| Maturity: | Sept. 28, 2023
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| Coupon: | 13.85% annualized, payable quarterly if each stock closes at or above coupon barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes 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 the first and final dates
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| Initial levels: | $3,416 for Amazon, $146.83 for Apple and $593.26 for Netflix
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| Coupon barrier levels: | $2,391.20 for Amazon, $102.781 for Apple and $415.282 for Netflix, 70% of initial levels
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| Trigger levels: | $2,391.20 for Amazon, $102.781 for Apple and $415.282 for Netflix, 70% of initial levels
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| Pricing date: | Sept. 24, 2021
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| Settlement date: | Sept. 29, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48132WVK2
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