Published on 5/23/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.6 million autocallable contingent interest notes on indexes, ETF
New York, May 23 – JPMorgan Chase Financial Co. LLC priced $1.6 million of autocallable contingent interest notes due May 23, 2024 linked to the Dow Jones industrial average, the S&P 500 index and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the level of each underlier is greater than or equal to its initial price starting Nov. 18, 2022 and on any subsequent quarterly review date.
At maturity, the payout will be par unless the worst performing asset finishes below its 55% 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: | Dow Jones industrial average, S&P 500 index and iShares Russell 2000 Value ETF
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Amount: | $1,595,000
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Maturity: | May 23, 2024
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Coupon: | 7%, paid quarterly, if each underlier closes at or above its 70% coupon barrier 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 finishes 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 if the level of each underlier is greater than or equal to its initial price starting Nov. 18, 2022 and on any subsequent quarterly review date
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Initial levels: | 31,490.07 for Dow Jones industrial average, 3,923.68 for S&P 500, $144.34 for iShares Russell 2000 Value ETF
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Trigger levels: | 17,319.5385 for Dow Jones industrial average, 2,158.024 for S&P 500, $79.387 for iShares Russell 2000 Value ETF, 55% of initial level
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Coupon barrier: | 22,043.049 for Dow Jones industrial average, 2,746.576 for S&P 500 index, $101.038 for iShares Russell 2000 Value ETF, 70% of the initial levels
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Pricing date: | May 18
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Settlement date: | May 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.94373%
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Cusip: | 48133GAC7
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