By Angela McDaniels
Tacoma, Wash., July 18 – JPMorgan Chase Financial Co. LLC priced $520,000 of autocallable contingent interest notes due Sept. 18, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 9.35% per year if each index closes at or above its trigger value, 60% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly review date other than the final review date.
If the notes have not been called, the payout at maturity will be par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
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 indexes: | S&P 500 and Russell 2000
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| Amount: | $520,000
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| Maturity: | Sept. 18, 2023
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| Coupon: | 9.35% per year, payable quarterly if each index closes at or above trigger value on review date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless either index closes below trigger value during life of notes and either index finishes below initial level, in which 1% loss for every 1% that lesser-performing index finishes below initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any quarterly review date other than final one
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| Initial levels: | 1,831.575 for Russell and 3,932.69 for S&P
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| Trigger values: | 1,098.945 for Russell and 2,359.614 for S&P, or 60% of initial levels
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| Pricing date: | Sept. 13, 2022
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| Settlement date: | Sept. 16, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.71058%
|
| Cusip: | 48133MXV7
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