Published on 5/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $520,000 8.5% autocallable yield notes on Apple, Nvidia, Lowe’s
By William Gullotti
Buffalo, N.Y., May 13 – JPMorgan Chase Financial Co. LLC priced $520,000 of 8.5% autocallable yield notes due Oct. 10, 2024 linked to the stock performance of Nvidia Corp., Lowe’s Cos., Inc. and Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable quarterly.
The notes will be called at par plus coupon if each stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless any stock finishes below its trigger level, 60% of its initial level, in which case investors will be fully exposed to the decline of the least performing stock from its initial level.
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 yield notes
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| Underlying stocks: | Nvidia Corp., Lowe’s Cos., Inc., Apple Inc.
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| Amount: | $520,000
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| Maturity: | Oct. 10, 2024
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| Coupon: | 8.5%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger level, in which case full exposure to decline of worst performing stock from its initial level
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| Call: | At par plus coupon if each stock closes at or above the initial level on any quarterly review date
|
| Initial levels: | $210.75 for Nvidia, $207.90 for Lowe’s, $143.29 for Apple
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| Trigger levels: | $126.45 for Nvidia, $124.74 for Lowe’s, $85.974 for Apple; 60% of initial levels
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| Strike date: | Oct. 7, 2021
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| Pricing date: | Oct. 8, 2021
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| Settlement date: | Oct. 14, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48132YAJ4
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