Published on 7/27/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.08 million callable contingent interest notes on index, ETF
By William Gullotti
Buffalo, N.Y., July 27 – JPMorgan Chase Financial Co. LLC sold $2.08 million of callable contingent interest notes due Aug. 30, 2023 linked to the performance of the Nasdaq-100 index and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent semiannual coupon at an annual rate of 13% if each underlier closes at or above its interest barrier level, 70% of its initial level, on the corresponding review date.
The notes will be callable at par plus any coupon otherwise due on any semiannual call date other than the final.
The payout at maturity will be par plus the final coupon unless any underlier finishes below the 70% trigger value, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
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| Underlying assets: | Nasdaq-100 index, Financial Select Sector SPDR Fund
|
| Amount: | $2,084,000
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| Maturity: | Aug. 30, 2023
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| Coupon: | 13% annualized, payable semiannually if each underlier closes at or above interest barrier level on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any underlier finishes below trigger level, in which case 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par plus any coupon due on any semiannual call date other than the final
|
| Initial levels: | $32.75 for ETF, 12,396.47 for Nasdaq
|
| Interest barriers: | $22.925 for ETF, 8,677.529 for Nasdaq; 70% of initial levels
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| Trigger values: | $22.925 for ETF, 8,677.529 for Nasdaq; 70% of initial levels
|
| Pricing date: | July 22
|
| Settlement date: | July 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 48133LFR8
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