Published on 2/6/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $650,000 review notes linked to Adobe, Advanced Micro, Broadcom
Chicago, Feb. 6 – JPMorgan Chase Financial Co. LLC priced $650,000 of 0% review notes due May 1, 2025 linked to the common stocks of Adobe Inc., Advanced Micro Devices, Inc. and Broadcom Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting May 2, 2023 and on any subsequent quarterly review date at a premium of 32% per year if the worst performing stock closes above 100% of its initial value on the successive determination dates;
If not called and the worst performing stock ends above its 60% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below the downside threshold level.
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: | Review notes
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| Underlying stocks: | Adobe Inc., Advanced Micro Devices, Inc. and Broadcom Inc.
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| Amount: | $650,000
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| Maturity: | May 1, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If not called and the worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Call: | Automatically starting May 2, 2023 and on any subsequent quarterly review date at a premium of 32% per year if the worst performing stock closes above 100% of its initial value on the successive determination dates
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| Initial levels: | $410.53 for Adobe, $89.64 for AMD, $578.94 for Broadcom
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| Downside thresholds: | $246.318 for Adobe, $53.784 for AMD, $347.364 for Broadcom, 60% of initial levels
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| Pricing date: | April 29, 2022
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| Settlement date: | May 4, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133F4A0
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