Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.74 million autocallable contingent interest notes on index, ETFs
Chicago, May 16 – JPMorgan Chase Financial Co. LLC priced $1.74 million of autocallable contingent interest notes due Oct. 16, 2025 linked to the least performing of the Euro Stoxx 50 index, the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if each underlier closes at or above its interest barrier level, 80% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any quarterly review date other than the first and final review dates.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 80% buffer level. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond the 20% buffer.
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: | Euro Stoxx 50 index, the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF
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Amount: | $1,739,000
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Maturity: | Oct. 16, 2025
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Coupon: | 7 % annual rate, payable quarterly if each underlier closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | If each underlier finishes at or above buffer level, par plus final coupon; otherwise, lose 1% for every 1% decline of worst performer beyond buffer
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date other than the first and final dates
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Initial levels: | $78.54 for EAFE, $51.16 for EM, 4,083.28 for Stoxx
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Interest barrier: | $62.832 for EAFE, $40.928 for EM, 3,266.624 for Stoxx; 80% of initial levels
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Buffer levels: | $62.832 for EAFE, $40.928 for EM, 3,266.624 for Stoxx; 80% of initial levels
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Pricing date: | Oct. 13, 2021
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Settlement date: | Oct. 18, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48132WR50
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