Published on 7/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 contingent interest autocalls on three stocks
By Kiku Steinfeld
Chicago, July 7 – JPMorgan Chase Financial Co. LLC priced $600,000 of autocallable contingent interest notes due Dec. 27, 2023 linked to the least performing of the stocks of Chipotle Mexican Grill, Inc., Coca-Cola Co. and McDonald’s Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.1% if each stock closes at or above its 75% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if each stock closes at or above its initial level on any quarterly review date other than the final date.
The payout at maturity will be par unless any stock finishes below its 75% 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: | Chipotle Mexican Grill, Inc., Coca-Cola Co. and McDonald’s Corp.
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| Amount: | $600,000
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| Maturity: | Dec. 27, 2023
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| Coupon: | 9.1% annualized, payable quarterly if each stock closes at or above 75% coupon barrier on review date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below 75% trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par if each stock closes at or above initial level on any review date other than final date
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| Initial levels: | $1,723.89 for Chipotle, $57.77 for Coca-Cola, $264.39 for McDonald’s
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| Trigger levels: | $1,292.9175 for Chipotle, $43.3275 for Coca-Cola, $198.2925 for McDonald’s; 75% of initial levels
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133CGB2
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