Published on 1/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $258,000 15% autocallable contingent interest notes on stocks
Chicago, Jan. 27 – JPMorgan Chase Financial Co. LLC priced $258,000 of autocallable contingent interest notes due May 1, 2025 linked to the least performing of the common stocks of Hyatt Hotels Corp., Lincoln National Corp. and Papa John’s International, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par starting Oct. 26, 2022 and on any subsequent quarterly review date if all three stocks close above their initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline 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: | Hyatt Hotels Corp., Lincoln National Corp. and Papa John’s International, Inc.
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Amount: | $258,000
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Maturity: | May 1, 2025
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Coupon: | 15% annual rate, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically at par starting Oct. 26, 2022 and on any subsequent quarterly review date if all three stocks close above initial levels
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Initial levels: | $95.92 for Hyatt., $61.17 for Lincoln, $96.32 for Papa John’s
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Trigger levels: | $57.552 for Hyatt, $36.702 for Lincoln, $57.792 for Papa John’s, 60% of initial levels
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Pricing date: | April 26, 2022
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Settlement date: | April 29, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133FBV6
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