Published on 8/24/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.58 million 15.5% autocallable contingent interest notes on three stocks
By Kiku Steinfeld
Chicago, Aug. 24 – JPMorgan Chase Financial Co. LLC priced $2.58 million of autocallable contingent interest notes due Jan. 24, 2025 linked to the common stock of United States Steel Corp., Qualcomm Inc. and Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.5%, paid monthly, if the underlying stock closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par starting July 18, 2022 and on any subsequent quarterly review date if each stock closes at or above its initial level.
At maturity the payout will be par unless the stock closes below its trigger level, in which case investors will be fully exposed to the decline of the 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: | United States Steel Corp., Qualcomm Inc. and Advanced Micro Devices, Inc.
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Amount: | $2,581,000
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Maturity: | Jan. 24, 2025
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Coupon: | 15.5%, paid monthly, if the underlying stock closes at or above its trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the stock closes below its trigger level in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically at par starting July 18, 2022 and on any subsequent quarterly review date if each stock closes at or above its initial level
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Initial levels: | $24.01 for U.S. Steel, $178.86 for Qualcomm, $131.93 for AMD
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Trigger levels: | $14.406 for U.S. Steel, $107.316 for Qualcomm, $79.158 for AMD, 60% of initial levels
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Pricing date: | Jan. 18
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Settlement date: | Jan. 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133CPW6
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