Published on 5/20/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.19 million contingent income securities on Nasdaq, Russell, S&P
By William Gullotti
Buffalo, N.Y., May 20 – JPMorgan Chase Financial Co. LLC priced $1.19 million of contingent income securities due May 16, 2024 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 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.
The notes pay a contingent quarterly coupon at a rate of 9.6% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the review date for that period.
The payout at maturity will be par plus the final coupon unless any index finishes below its 75% trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Contingent income securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $1,187,000
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| Maturity: | May 16, 2024
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| Coupon: | 9.6% annual rate, payable quarterly if each index closes at or above its coupon barrier on the review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below its trigger value, in which case investors will be fully exposed to the decline of the lesser-performing index
|
| Initial levels: | 12,387.4 for Nasdaq, 1,792.666 for Russell, 4,023.89 for S&P
|
| Coupon barrier/trigger levels: | 9,290.55 for Nasdaq, 1,344.4995 for Russell, 3,017.9175 for S&P; 75% of initial levels
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| Pricing date: | May 13
|
| Settlement date: | May 18
|
| Agent: | J.P. Morgan Securities LLC
|
| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2%
|
| Cusip: | 48133FP82
|
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