Published on 6/6/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.06 million 10.45% callable contingent interest notes linked to PayPal
Chicago, June 6 – JPMorgan Chase Financial Co. LLC priced $1.06 million of callable contingent interest notes due Nov. 24, 2023 linked to the common stock of PayPal Holdings, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.45%, paid quarterly, if the underlying stock closes at or above its 75% interest barrier level on the related quarterly observation date.
If the stock gains or ends above its 75% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its downside threshold level.
The securities may be called at par starting May 24, 2022 and on any subsequent quarterly review 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 stock: | PayPal Holdings, Inc.
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Amount: | $1,055,000
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Maturity: | Nov. 24, 2023
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Coupon: | 10.45% annual rate, paid quarterly, if the underlying stock closes at or above its 75% interest barrier level on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If stock finishes at or above its downside threshold level, par; 1% loss for every 1% that stock declines if it finishes below its downside threshold level
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Call option: | Starting May 24, 2022 and on any subsequent quarterly review date at par
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Initial level: | $193.61
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Interest barrier level: | $145.2075, 75% of initial level
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Downside threshold: | $145.2075, 75% of initial level
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Pricing date: | Nov. 19, 2021
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Settlement date: | Nov. 24, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48132YXY6
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