Published on 4/29/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $638,000 6.75% autocallable yield notes on indexes
By Kiku Steinfeld
Chicago, April 29 – JPMorgan Chase Financial Co. LLC priced $638,000 of 6.75% autocallable yield notes due Jan. 3, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The notes will be called at par if each asset closes at or above its initial level on March 28, 2022, June 28, 2022 or Sept. 28, 2022.
If the notes are not called, the payout at maturity will be par unless any asset finishes below its initial level and any asset has ever closed below its 75% trigger level, in which case investors will be fully exposed to the decline of the least-performing asset.
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 yield notes
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| Underlying assets: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $638,000
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| Maturity: | Jan. 3, 2023
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| Coupon: | 6.75% per year, payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless any asset finishes below its initial level and any asset ever closes below trigger level, in which case 1% loss for each 1% decline of the worst-performing asset
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| Call option: | At par if each index closes at or above its initial level on March 28, 2022, June 28, 2022 or Sept. 28, 2022
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| Initial levels: | 4,352.63 for S&P, 2,229.778 for Russell, 34,299.99 for Dow
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| Trigger levels: | 3,264.4725 for S&P, 1,672.3335 for Russell, 25,724.9925 for Dow; 75% of initial levels
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| Pricing date: | Sept. 28, 2021
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| Settlement date: | Oct. 1, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48132WZE2
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