Published on 5/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 22.65% autocallable contingent interest notes on two stocks
By Kiku Steinfeld
Chicago, May 23 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Oct. 18, 2024 linked to the stocks of eXp World Holdings, Inc. and Opendoor Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 22.65%, paid monthly, if each underlying stock closes at or above its 60% coupon trigger level on the related monthly observation date.
The securities will be called automatically at par starting Jan. 18, 2022 and on any subsequent monthly review date if each stock closes at or above 80% of its initial level.
At maturity, the payout will be par unless any stock closes below its 50% final barrier 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: | eXp World Holdings, Inc. and Opendoor Technologies Inc.
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| Amount: | $1 million
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| Maturity: | Oct. 18, 2024
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| Coupon: | 22.65%, paid monthly, if the least performing stock closes at or above its coupon trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any stock closes below its final barrier, in which case investors will be fully exposed to the decline in least performing stock
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| Call: | Automatically at par starting Jan. 18, 2022 and on any subsequent monthly review date if each stock closes at or above 80% of its initial level
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| Initial levels: | $23.43 for Opendoor, $48.55 for eXp
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| Coupon trigger levels: | $14.058 for Opendoor, $29.13 for eXp, 60% of initial levels
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| Final barrier levels: | $11.715 for Opendoor, $24.275 for eXp, 50% of initial levels
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| Pricing date: | Oct. 15, 2021
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| Settlement date: | Oct. 20, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48132YBV6
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