Published on 6/6/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 8.05% autocallable yield notes on indexes, ETF
By Kiku Steinfeld
Chicago, June 6 – JPMorgan Chase Financial Co. LLC priced $1 million of 8.05% autocallable yield notes due Feb. 22, 2023 linked to the S&P 500 index, Russell 2000 index and ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The securities will be called automatically at par if each asset closes at or above its initial level on May 16, 2022, Aug. 16, 2022 or Nov. 16, 2022.
If each asset closes at or above its downside threshold on every day during the life of the notes or each asset finishes at or above its initial level, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines.
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 yield notes
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| Underlying assets: | S&P 500 index, Russell 2000 index and ARK Innovation ETF
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| Amount: | $1 million
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| Maturity: | Feb. 22, 2023
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| Coupon: | 8.05% per year, paid monthly
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| Price: | Par
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| Payout at maturity: | Par unless any asset closes below its downside threshold level on any day during the life of the notes and any asset’s final level is less than its initial level, in which case 1% loss for every 1% that worst performing asset declines
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| Call: | Automatically at par if each asset closes at or above its initial level on May 16, 2022, Aug. 16, 2022 or Nov. 16, 2022
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| Initial levels: | 2,405.024 for Russell, 4,700.90 for S&P, $118.92 for fund
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| Downside thresholds: | 1,515.16512 for Russell, 2,961.567 for S&P, $74.9196 for fund, 63% of initial levels
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| Pricing date: | Nov. 16, 2021
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| Settlement date: | Nov. 19, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48132YUQ6
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