Published on 8/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $345,000 7.1% contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $345,000 of autocallable contingent interest notes due Oct. 25, 2023 linked to the Russell 2000 index, Nasdaq-100 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.1%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting April 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% trigger level, in which case investors will be fully exposed to the decline of the worst performing asset.
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 contingent interest notes
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Underlying assets: | Russell 2000 index, Nasdaq-100 index and SPDR S&P Regional Banking ETF
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Amount: | $345,000
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Maturity: | Oct. 25, 2023
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Coupon: | 7.1%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset closes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically at par starting April 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | 14,846.46 for Nasdaq, 2,024.037 for Russell, $73.04 for fund
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Trigger levels: | 8,907.876 for Nasdaq, 1,214.4222 for Russell, $43.824 for fund, 60% of initial level
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Coupon barrier: | 10,392.522 for Nasdaq, 1,416.8259 for Russell, $51.128 for fund, 70% of initial levels
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Pricing date: | Jan. 20
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Settlement date: | Jan. 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133CSL7
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