Published on 2/24/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.02 million callable contingent interest notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 24 – JPMorgan Chase Financial Co. LLC priced $4.02 million of callable contingent interest notes due Feb. 23, 2027 linked to the least performing of the Dow Jones industrial average, the MSCI EAFE index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 10.1% if each asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes are callable at par on any quarterly call review date.
The payout at maturity will be par unless any asset finishes below its initial level and any asset closes below its 65% trigger value on any day during the life of the notes, in which case investors will lose 1% for each 1% decline from the worst performer’s initial level.
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 Assets: | Dow Jones industrial average, MSCI EAFE index and Russell 2000 index
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| Amount: | $4,018,000
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| Maturity: | Feb. 23, 2027
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| Coupon: | 10.1% annualized, payable quarterly if each asset closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par unless any asset finishes below its initial level and any asset closes below 65% trigger value on any day during the life of the notes, in which case 1% loss for each 1% decline of least performing asset from initial level
|
| Call option: | At par on any quarterly call review date
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| Initial levels: | 2,235.92 for MSCI EAFE, 34,079.18 for Dow and 2,009.333 for Russell
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| Interest barrier: | 1,565.144 for MSCI EAFE, 23,855.426 for Dow and 1,406.5331 for Russell, 70% of initial values
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| Trigger levels: | 1,453.348 for MSCI EAFE, 22,151.467 for Dow and 1,306.06645 for Russell, 65% of initial values
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133DDK3
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