Published on 7/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.46 million 8.85% callable contingent interest notes on index, ETF
By Kiku Steinfeld
Chicago, July 7 – JPMorgan Chase Financial Co. LLC priced $1.46 million 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 coupon of 8.85% each six months if the worst performing asset finishes at or above its 70% coupon barrier level for that biannual period.
If the worst performing asset gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
The securities may be called at par starting June 27, 2022 and on any subsequent biannual 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: | $1,457,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 8.85% each six months if the worst performing asset finishes at or above its 70% coupon barrier level for that biannual period
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | At par on June 27, 2022 and on any subsequent biannual determination date
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| Initial levels: | 16,180.14 for index, $38.62 for fund
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| Coupon barrier levels: | 11,326.098 for index, $27.034 for fund
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| Downside thresholds: | 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: | 0%
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| Cusip: | 48132YF34
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