Published on 1/28/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.37 million autocallable barrier notes on Nasdaq, Russell
By Kiku Steinfeld
Chicago, Jan. 28 – JPMorgan Chase Financial Co. LLC priced $1.37 million of 0% autocallable barrier notes due Aug. 31, 2023 linked to the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically redeemed at $65 per each $1,000 principal amount of notes if both indexes finish at or above their initial levels on Aug. 29, 2022.
If the notes are not called and both indexes gain, the payout at maturity will be par plus the return of the least performing index.
If the worst performer declines but finishes at or above 70% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level of the least 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 barrier notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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Amount: | $1,365,000
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Maturity: | Aug. 31, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If both indexes gain, par plus return of worst performer; par if at least one index declines but the other finishes at or above barrier level; otherwise, investors will lose 1% for each 1% decline from the initial level of the least performing index
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Call: | At par plus $65 per each $1,000 principal amount of notes if each index finishes at or above its initial level on Aug. 29, 2022
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Initial index levels: | 15,278.52 for Nasdaq, 2,213.979 for Russell
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Barrier levels: | 10,694.964 for Nasdaq, 1,549.7853 for Russell, 70% of initial levels
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.41868%
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Cusip: | 48132UP64
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