Published on 5/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $210,000 contingent interest autocallables linked to indexes, Russell ETF
By Angela McDaniels
Tacoma, Wash., May 26 – JPMorgan Chase Financial Co. LLC priced $210,000 of autocallable contingent interest notes due Feb. 9, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The issue is a reopening. The initial $3.15 million principal amount of notes were issued on May 11, 2022. The reopening priced June 1, 2022 and settled June 3, 2022.
Each month, investors receive an annualized coupon of 12.75% if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
Beginning Aug. 8, 2022, the securities will be called automatically if the level of each underlier is greater than or equal to its initial level on any monthly review date.
At maturity the payout will be par unless any asset finishes 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
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying assets: | Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF
|
Amount: | $210,000
|
Maturity: | Feb. 9, 2024
|
Coupon: | 12.75%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the worst performing asset finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing underlying asset
|
Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than first, second and final ones
|
Initial levels: | 12,693.54 for Nasdaq, 1,839.565 for Russell, $148.69 for iShares Russell 2000 Value ETF
|
Coupon barrier: | 8,885.478 for Nasdaq, 1,287.6955 for Russell, $104.083 for iShares Russell 2000 Value ETF, 70% of the initial levels
|
Trigger levels: | 7,616.124 for Nasdaq, 1,103.739 for Russell, $89.214 for iShares Russell 2000 Value ETF, 60% of initial level
|
Pricing date: | June 1, 2022
|
Settlement date: | June 3, 2022
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 0.53019%
|
Cusip: | 48133F3X1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.