By Angela McDaniels
Tacoma, Wash., July 11 – JPMorgan Chase Financial Co. LLC priced $473,000 of autocallable contingent interest notes due Feb. 1, 2024 linked to the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 24.4% per year if the ETF closes at or above the trigger value, 60% of its initial share price, on the review date for that month.
The notes will be automatically called at par if the ETF closes at or above its initial share price on any review date other than the first through fifth and final review dates.
If the notes have not been called, the payout at maturity will be par unless the ETF finishes below the trigger value, in which case investors will lose 1% for every 1% that the ETF finishes below its initial share price.
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 ETF: | ARK Innovation ETF
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| Amount: | $473,000
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| Maturity: | Feb. 1, 2024
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| Coupon: | 24.4% per year, payable monthly if ETF closes at or above trigger value on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless ETF finishes below trigger value, in which case 1% loss for every 1% that ETF finishes below initial share price
|
| Call: | Automatically at par plus contingent coupon if ETF closes at or above initial share price on any monthly review date other than first through fifth and final ones
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| Initial share price: | $46.38
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| Trigger value: | $27.828, or 60% of initial share price
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| Pricing date: | July 27, 2022
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| Settlement date: | Aug. 1, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
|
| Cusip: | 48133LSB9
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