Published on 3/11/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $817,000 contingent interest autocalls on S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, March 11 – JPMorgan Chase Financial Co. LLC priced $817,000 of autocallable contingent interest notes due March 17, 2023 tied to the least performing of the Russell 2000 index, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at 9% per year if each index closes at or above its interest barrier level on the corresponding review date.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly review date other than the first and final.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 65% trigger value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines.
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 indexes: | Russell 2000 index, S&P 500 index and Nasdaq-100 index
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| Amount: | $817,000
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| Maturity: | March 17, 2023
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| Coupon: | 9% per year, payable quarterly if index closes at or above its interest barrier level on corresponding review date
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its trigger level during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the least-performing index declines
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| Call: | Automatically at par if each index closes at or above its initial level on any quarterly review date other than the first and final ones
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| Initial levels: | 2,209.985 for Russell, 4,443.05 for S&P, 15,382.90 for Nasdaq
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| Interest barrier levels: | 1,546.9895 for Russell, 3,110.135 for S&P, 10,768.03 for Nasdaq; 70% of initial levels
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| Trigger levels: | 1,436.49025 for Russell, 2,887.9825 for S&P, 9,998.885 for Nasdaq; 65% of initial levels
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| Pricing date: | Sept. 14
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| Settlement date: | Sept. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48132WSF7
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