Published on 9/4/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $975,000 10.1% autocallable contingent interest notes on ETFs
Chicago, Sept. 6 – JPMorgan Chase Financial Co. LLC priced $975,000 of autocallable contingent interest notes due Jan. 25, 2024 linked to the least performing of the SPDR S&P Regional Banking ETF, SPDR S&P Bank ETF and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.1%, paid quarterly, if each underlying fund closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par starting July 21, 2022 and on any subsequent quarterly review date if each fund closes above its initial level.
At maturity the payout will be par unless the worst performing ETF closes below its 75% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | SPDR S&P Regional Banking ETF, SPDR S&P Bank ETF and Financial Select Sector SPDR Fund
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| Amount: | $975,000
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| Maturity: | Jan. 25, 2024
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| Coupon: | 10.1% annual rate, paid quarterly, if each underlying fund closes at or above its 80% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par starting July 21, 2022 and on any subsequent quarterly review date if each fund closes above its initial level
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| Initial levels: | $71.61 for Regional, $55.12 for Bank, $38.20 for Financial
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| Trigger levels: | $53.707 for Regional, $41.34 for Bank, $28.65 for Financial, 75% of initial levels
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| Coupon barriers: | $57.288 for Regional, $44.096 for Bank, $30.56 for Financial, 80% of initial levels
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| Pricing date: | Jan. 21
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| Settlement date: | Jan. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133CUU4
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