Published on 7/3/2022 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, July 5 – JPMorgan Chase Financial Co. LLC priced $1 million of 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.
The securities will be called automatically at par if each underlying asset closes at or above its initial level on May 16, 2022, Aug. 16, 2022 or Nov. 16, 2022.
Investors will receive a coupon of 8.05% per year, paid monthly.
The payout at maturity will be par plus the coupon unless any underlying asset closes below its trigger level during the life of the notes and any underlying asset finishes below its initial level, in which case 1% loss for each 1% decline of the least performing index from 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 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 underlying asset closes below its trigger level during the life of the notes and any underlying asset finishes below its initial level, in which case 1% loss for each 1% decline of the least performing index from its initial level
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Call: | Automatically at par if each underlying 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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