Published on 8/25/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3 million autocallable contingent interest notes on S&P 500, SPDR ETFs
New York, Aug. 25 – JPMorgan Chase Financial Co. LLC priced $3 million of autocallable contingent interest notes due Feb. 27, 2024 linked to the S&P 500 index, the Financial Select Sector SPDR Fund and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.72%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlying asset is greater than or equal to 85% of its initial level on any monthly review date starting Feb. 22, 2023.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% 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: | S&P 500 index, Financial Select Sector SPDR Fund and Utilities Select Sector SPDR Fund
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Amount: | $3 million
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Maturity: | Feb. 27, 2024
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Coupon: | 6.72%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically at par if the closing level of each underlying asset is greater than or equal to 85% of its initial level on any monthly review date starting Feb. 22, 2023
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Initial levels: | 4,137.99 for S&P, $34.19 for Financial Select, $76.64 for Utilities Select
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Trigger levels: | 2,482.794 for S&P, $20.514 for Financial Select, $45.984 for Utilities Select, 60% of initial level
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Coupon barriers: | 2,896.593 for S&P, $23.933 for Financial Select, $53.648 for Utilities Select, 70% of initial levels
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Call threshold: | 85% of initial levels
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Pricing date: | Aug. 22
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Settlement date: | Aug. 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133MPG9
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