Published on 7/1/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.47 million uncapped digital barrier notes linked to Russell, S&P
By William Gullotti
Buffalo, N.Y., July 1 – JPMorgan Chase Financial Co. LLC priced $2.47 million of 0% uncapped digital barrier notes due June 27, 2024 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of the lesser performing index’s return and the digital upside return of 26.6%.
If any index declines but the final level of each index is greater than or equal to its barrier level, 70% of its initial level, the payout will be par.
If the lesser performing index finishes below 70% of its initial level, the payout will be par plus the return with full exposure to the losses of the worst performer.
The notes are guaranteed by JPMorgan Chase & Co.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Uncapped digital barrier notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $2.47 million
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| Maturity: | June 27, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If lesser performing index finishes at or above initial level, par plus greater of lesser performing index’s return and 26.6%; if any index declines but final level of each index is greater than or equal to barrier level, par; if lesser performer finishes below barrier level, full exposure to decline of worst performer
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| Initial levels: | 3,911.74 for S&P, 1,765.737 for Russell
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| Barrier levels: | 2,738.218 for S&P, 1,236.0159 for Russell; 70% of initial levels
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| Pricing date: | June 24
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| Settlement date: | June 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48133G7H0
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