Published on 6/8/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $750,000 autocallable contingent interest notes on pharma stocks
Chicago, June 8 – JPMorgan Chase Financial Co. LLC priced $750,000 of autocallable contingent interest notes due Nov. 29, 2024 linked to the least performing of the stocks of Bristol-Myers Squibb Co., Gilead Sciences, Inc. and Pfizer Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.6%, paid quarterly, 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 quarterly review date after six 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: | Bristol-Myers Squibb Co., Gilead Sciences, Inc. and Pfizer Inc.
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| Amount: | $750,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 8.6% annual rate, paid quarterly, 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 quarterly review date after six months if each stock closes at or above its initial level
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| Initial levels: | $57.45 for BMS, $70.63 for Gilead, $51.08 for Pfizer
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| Interest barrier levels: | $34.47 for BMS, $42.378 for Gilead, $30.648 for Pfizer; 60% of initial levels
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| Trigger levels: | $34.47 for BMS, $42.378 for Gilead, $30.648 for Pfizer; 60% of initial levels
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| Pricing date: | Nov. 23, 2021
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| Settlement date: | Nov. 29, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132YZF5
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