Published on 1/26/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.59 million contingent interest autocalls on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 26 – JPMorgan Chase Financial Co. LLC priced $1.59 million of autocallable contingent interest notes due April 13, 2023 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 7.3% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first through fifth and final review dates.
The payout at maturity will be par unless either index finishes below initial level and either index has ever closed below its 70% trigger value during the life of the notes. Otherwise, investors will lose 1% for each 1% decline of the worst performer from 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: | Russell 2000 index, S&P 500 index
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| Amount: | $1,588,000
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| Maturity: | April 13, 2023
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| Coupon: | 7.3% annual rate, payable monthly if each index closes at or above interest barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level or never closes below trigger during life of notes, par; otherwise, 1% loss for each 1% decline of least performing index from initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than the first through fifth and final ones
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| Initial levels: | 4,662.85 for S&P, 2,162.456 for Russell
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| Interest barrier: | 3,273.921 for S&P, 1,525.867 for Russell; 70% of initial leve
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| Trigger levels: | 3,273.921 for S&P, 1,525.867 for Russell; 70% of initial levels
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| Pricing date: | Jan. 7
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| Settlement date: | Jan. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133CA28
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