Published on 7/2/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $887,000 7.25% callable contingent interest notes on index, fund
By Kiku Steinfeld
Chicago, July 5 – JPMorgan Chase Financial Co. LLC priced $887,000 of callable contingent interest notes due Dec. 27, 2024 linked to the Nasdaq-100 index and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a semiannual coupon of 7.25% per year if each asset finishes at or above its interest barrier level, 70% of its initial level, on the corresponding semiannual determination date.
If the worst performing asset finishes at or above its 70% trigger level, the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its trigger level.
The securities may be called at par on any semiannual determination date.
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: | Callable contingent interest notes
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| Underlying assets: | Nasdaq-100 index and Financial Select Sector SPDR Fund
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| Amount: | $887,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 7.25% per year, payable each six months if each asset finishes at or above its interest barrier level on corresponding semiannual determination date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its trigger level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its trigger level
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| Call option: | At par on any semiannual determination date
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| Initial levels: | 16,180.14 for index, $38.62 for fund
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| Interest barrier levels: | 11,326.098 for index, $27.034 for fund, 70% of initial levels
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| Trigger levels: | 11,326.098 for index, $27.034 for fund, 70% of initial levels
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| Pricing date: | Dec. 22, 2021
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| Settlement date: | Dec. 28, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132YE92
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