Published on 12/16/2021 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 contingent interest autocalls on tech stocks
By Kiku Steinfeld
Chicago, Dec. 16 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Aug. 29, 2024 linked to the least performing of the common stocks of Apple Inc., Amazon.com, Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.15% if each stock closes at or above its 75% coupon barrier on the review date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial level on any monthly review date other than the first, second and final dates.
The payout at maturity will be par unless any stock finishes below its 65% 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: | Apple Inc., Amazon.com, Inc. and Microsoft Corp.
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| Amount: | $500,000
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| Maturity: | Aug. 29, 2024
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| Coupon: | 11.15% annualized, payable monthly if each stock closes at or above coupon barrier on review date for that month
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger, in which case 1% loss for each 1% decline of worst performing stock
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| Call: | At par plus contingent coupon if each stock closes at or above initial level on any monthly review date other than the first, second and final dates
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| Initial levels: | $3,299.18 for Amazon, $148.36 for Apple and $302.01 for Microsoft
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| Coupon barrier levels: | $2,474.385 for Amazon, $111.27 for Apple and $226.5075 for Microsoft, 75% of initial levels
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| Trigger levels: | $2,144.467 for Amazon, $96.434 for Apple and $196.3065 for Microsoft, 65% of initial levels
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48132WGN3
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