Published on 9/23/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $319,000 7.3% contingent interest autocallables on indexes, ETF
By Kiku Steinfeld
Chicago, Sept. 23 – JPMorgan Chase Financial Co. LLC priced $319,000 of autocallable contingent interest notes due Aug. 3, 2023 linked to the Russell 2000 index, Nasdaq-100 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.3% per year, paid quarterly, if each underlier closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically at par starting Aug. 1, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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 500 ETF Trust
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| Amount: | $319,000
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| Maturity: | Aug. 3, 2023
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| Coupon: | 7.3%, paid quarterly, if each underlier closes at or above its 70% trigger level on the related quarterly 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 Aug. 1, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $449.91 for fund, 14,930.05 for Nasdaq, 2,028.453 for Russell
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| Trigger levels: | $314.937 for fund, 10,451.035 for Nasdaq, 1,419.9171 for Russell, 70% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133C5E8
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