Published on 6/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.24 million autocallable contingent interest notes on index, ETF
By Kiku Steinfeld
Chicago, June 22 – JPMorgan Chase Financial Co. LLC priced $1.24 million of autocallable contingent interest notes due Dec. 13, 2024 linked to the Russell 2000 index and Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.7%, paid quarterly, if each underlier closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically starting Dec. 12, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 70% trigger level, in which case 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: | Russell 2000 index and Financial Select Sector SPDR fund
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| Amount: | $1,235,000
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| Maturity: | Dec. 13, 2024
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| Coupon: | 8.7%, paid quarterly, if each underlier closes at or above its 70% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
|
| Call: | Automatically starting Dec. 12, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial levels: | 2,211.806 for index$39.05 for fund
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| Trigger levels: | 1,548.2642 for index, $27.335 for fund, 70% of initial levels
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| Pricing date: | Dec. 10, 2021
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| Settlement date: | Dec. 15, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.50263%
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| Cusip: | 48132YT47
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