By Angela McDaniels
Tacoma, Wash., July 10 – JPMorgan Chase Bank, NA priced $1.15 million of certificates of deposit due Aug. 2, 2027 linked to the J.P. Morgan Dynamic Blend index, according to a 424B2 filing with the Securities and Exchange Commission.
The CDs pay interest annually at a rate of 1.8% per year for the first four years. No interest will be paid in the final year.
The payout at maturity will be par plus 200% of the index return, subject to a minimum payout of par.
The bank said JPMorgan Chase & Co. agreed to make donations to Start Small. Think Big., Inc., a nonprofit organization, to support one or several diverse entrepreneurship projects. JPMorgan Chase Bank expects to realize profits for assuming risks inherent in hedging its obligations under the CDs, and some of these projected profits, if any, may be used to offset a portion of the donations.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Bank, NA
|
| Issue: | Certificates of deposit
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| Underlying index: | J.P. Morgan Dynamic Blend index
|
| Amount: | $1,154,000
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| Maturity: | Aug. 2, 2027
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| Coupon: | 1.8% per year, payable annually for first four years
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of index return, subject to minimum payout of par
|
| Initial level: | 155.40
|
| Pricing date: | July 28, 2022
|
| Settlement date: | Aug. 2, 2022
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
| Cusip: | 46593LKB4
|
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