Published on 10/4/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million callable contingent interest notes on three stocks
Chicago, Oct. 4 – JPMorgan Chase Financial Co. LLC sold $1 million of callable contingent interest notes due Feb. 12, 2025 linked to the lesser performing of the stocks of Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 9.5% if each stock closes at or above its interest barrier level, 55% of its initial level, on the review date for that month.
The notes will be callable at par on any monthly call date after six months.
The payout at maturity will be par plus the final coupon, unless any stock finishes below the 55% trigger value, in which case investors will lose 1% for each 1% decline of the worst 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: | Callable contingent interest notes
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| Underlying stocks: | Amazon.com, Inc., Apple Inc. and Microsoft Corp.
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| Amount: | $1,000,000
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| Maturity: | Feb. 12, 2025
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| Coupon: | 9.5% annualized, payable monthly if each underlying stock closes at or above interest barrier level on review date for that month
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| Price: | Par
|
| Payout at maturity: | Par plus final coupon, unless any stock finishes below trigger level, in which case 1% loss for each 1% decline of worst performing stock from initial level
|
| Call option: | At par on any monthly call date after six months
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| Initial levels: | $3,158.71 for Amazon, $171.66 for Apple, $300.95 for Microsoft
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| Interest barrier levels: | $1,737.2905 for Amazon, $94.413 for Apple, $165.5225 for Microsoft; 55% of initial levels
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| Trigger values: | $1,737.2905 for Amazon, $94.413 for Apple, $165.5225 for Microsoft; 55% of initial levels
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133CW65
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