Published on 2/16/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.09 million contingent interest autocalls on S&P, Russell
By Kiku Steinfeld
Chicago, Feb. 16 – JPMorgan Chase Financial Co. LLC priced $1.09 million of autocallable contingent interest notes due March 3, 2023 tied to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 8.5% per year if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any review other than the first, second and final review dates.
If the notes have not been called, the payout at maturity will be par unless either index finishes below its initial level and either index closes below 70% of its initial level during the life of the notes, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level.
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: | Russell 2000 index, S&P 500
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| Amount: | $1,094,000
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| Maturity: | March 3, 2023
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| Coupon: | 8.5% per year, payable monthly if each index closes at or above interest barrier level on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below its initial level and either index ever closes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing index finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any review other than first, second and final review dates
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| Initial levels: | 4,522.68 for S&P, 2,273.774 for Russell
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| Interest barriers: | 3,165.876 for S&P, 1,591.6418 for Russell,70% of initial levels
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| Trigger levels: | 3,165.876 for S&P, 1,591.6418 for Russell, 70% of initial levels
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| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.37523%
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| Cusip: | 48132WEB1
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