Published on 6/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.4 million 11% autocallable contingent interest notes on ETF, indexes
Chicago, June 22 – JPMorgan Chase Financial Co. LLC priced $1.4 million of autocallable contingent interest notes due Sept. 13, 2023 linked to the least performing of the iShares Russell 2000 Value ETF, S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting March 8, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par if none of the assets ever close below the 65% trigger level during the life of the notes or the worst performing asset ends above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing asset.
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 assets: | iShares Russell 2000 Value ETF, S&P 500 index and Nasdaq-100 index
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| Amount: | $1,402,000
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| Maturity: | Sept. 13, 2023
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| Coupon: | 11% annual rate, paid monthly, if each underlier 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 if none of the assets ever close below the trigger level during the life of the notes or the worst performing asset ends above its initial level; otherwise, investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically at par starting March 8, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $166.67 for fund, 4,701.21 for S&P, 16,394.34 for Nasdaq
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| Coupon barriers: | $116.669 for fund, 3,290.847 for S&P, 11,476.038for Nasdaq, 70% of initial levels
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| Trigger levels: | $108.3355 for fund, 3,055.7865 for S&P, 10,656.321 for Nasdaq; 65% of initial levels
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| Pricing date: | Dec. 8, 2021
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| Settlement date: | Dec. 13, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48132YR72
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