Published on 6/27/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.92 million contingent interest notes on the Russell, S&P
By William Gullotti
Buffalo, N.Y., June 27 – JPMorgan Chase Financial Co. LLC priced $2.92 million of contingent interest notes due June 23, 2025 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.
The notes pay a contingent semiannual coupon at a rate of 8.35% per year if each index closes at or above its coupon barrier, 70% 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 70% 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.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent interest notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $2.92 million
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Maturity: | June 23, 2025
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Coupon: | 8.35% annual rate, payable semiannually if each index closes at or above its coupon barrier on the review date for that period
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Price: | Par
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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 from its initial level
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Initial levels: | 1,665.694 for Russell, 3,674.84 for S&P
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Coupon barrier/trigger levels: | 1,165.9858 for Russell, 2,572.388 for S&P; 70% of initial levels
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Pricing date: | June 17
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Settlement date: | June 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48133GA52
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