Published on 8/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.32 million 10.5% autocallable contingent interest notes on three indexes
By Kiku Steinfeld
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $1.32 million of autocallable contingent interest notes due July 19, 2023 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically starting April 14, 2022 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date.
At maturity the payout will be par if all of the indexes never close below the 70% trigger level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing index.
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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1.32 million
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Maturity: | July 19, 2023
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Coupon: | 10.5%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par if all of the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically starting April 14, 2022 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date
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Initial levels: | 15,611.59 for Nasdaq, 2,162.456 for Russell, 4,662.85 for S&P
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Trigger levels: | 10,928.113 for Nasdaq, 1,513.7192 for Russell, 3,263.995 for S&P, 70% of initial levels
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Pricing date: | Jan. 14
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Settlement date: | Jan. 20
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.41648%
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Cusip: | 48133CLA8
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