Published on 6/1/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.3 million autocallable contingent interest notes on index, ETFs
New York, June 1 – JPMorgan Chase Financial Co. LLC priced $1.3 million of autocallable contingent interest notes due Nov. 29, 2023 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%, 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 each underlier closes at or above 85% of its initial level, starting Nov. 25, 2022 and on any subsequent monthly review date.
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: | $1.3 million
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Maturity: | Nov. 29, 2023
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Coupon: | 6%, 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 each underlier closes at or above 85% of its initial level, starting Nov. 25, 2022 and on any subsequent monthly review date
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Initial levels: | 3,941.48 for S&P, $33.92 for Financial, $74.05 for Utilities
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Trigger levels: | 2,364.888 for S&P, $20.352 for Financial, $44.43 for Utilities, 60% of initial level
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Coupon barrier: | 2,759.036 for S&P, $23.744 for Financial, $51.835 for Utilities, 70% of the initial levels
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Pricing date: | May 24
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Settlement date: | May 27
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133GHZ9
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