Published on 5/3/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $550,000 autocallable yield notes on three stocks
By Kiku Steinfeld
Chicago, May 3 – JPMorgan Chase Financial Co. LLC priced $550,000 of 8.75% autocallable yield notes due Oct. 3, 2023 linked to the worst performing of Bristol-Myers Squibb Co., Newmont Corp. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
Interest will be payable quarterly.
The notes will be called at par if each stock closes at or above its 95% call level on any quarterly review date starting March 28, 2022.
The payout at maturity will be par unless any stock finishes below its trigger level, 70% of its initial level, in which case investors will be fully exposed to the decline of the least performing stock.
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 yield notes
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| Underlying stocks: | Bristol-Myers Squibb Co., Newmont Corp. and the Microsoft Corp.
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| Amount: | $550,000
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| Maturity: | Oct. 3, 2023
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| Coupon: | 8.75%, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par unless any stock finishes below trigger level, in which case full exposure to decline of worst performing stock
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| Call: | At par if each stock closes at or above 95% of the initial level on any quarterly review date starting March 28, 2022
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| Initial levels: | $54.58 for Newmont, $59.84 for Bristol-Myers, $283.52 for Microsoft
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| Trigger levels: | $38.206 for Newmont, $41.888 for Bristol-Myers, $198.464 for Microsoft; 70% of initial levels
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| Pricing date: | Sept. 29, 2021
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| Settlement date: | Oct. 6, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48132W5C9
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