Published on 10/27/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $496,000 13.7% autocallable contingent interest notes on stocks
Chicago, Oct. 27 – JPMorgan Chase Financial Co. LLC priced $496,000 of autocallable contingent interest notes due Feb. 28, 2025 linked to the least performing of the common stocks of Apple Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.7%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting Aug. 25, 2022 and on any subsequent monthly review date if all three stocks close above their initial levels.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline 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., Alphabet Inc. and Microsoft Corp.
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Amount: | $496,000
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Maturity: | Feb. 28, 2025
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Coupon: | 13.7% annual rate, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
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Call: | Automatically at par starting Aug. 25, 2022 and on any subsequent monthly review date if all three stocks close above initial levels
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Initial levels: | $164.85 for Apple, $2,689.19 for Alphabet, $297.31 for Microsoft
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Trigger levels: | $98.91 for Apple, $1,613.514 for Alphabet, $178.386 for Microsoft, 60% of initial levels
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Coupon barriers: | $115.395 for Apple, $1,882.433 for Alphabet, $208.117 for Microsoft, 70% of initial levels
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Pricing date: | Feb. 25
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Settlement date: | March 2
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133DHR4
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