Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.3 million 11.45% autocallable contingent interest autocalls on ETFs
New York, May 16 – JPMorgan Chase Financial Co. LLC priced $1.3 million of autocallable contingent interest notes due Feb. 14, 2025 linked to VanEck Gold Miners ETF, Health Care Select Sector SPDR Fund and SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 11.45%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting May 11, 2023 and on any subsequent monthly review date if each fund closes at or above its initial level.
At maturity the payout will be par unless the worst performing fund closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing fund.
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 ETFs: | VanEck Gold Miners ETF, Health Care Select Sector SPDR Fund and SPDR Gold Trust
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| Amount: | $1.3 million
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| Maturity: | Feb. 14, 2025
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| Coupon: | 11.45%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing fund closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing underlying fund
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| Call: | Automatically starting May 11, 2023 and on any subsequent monthly review date if each fund closes at or above its initial level
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| Initial levels: | $126.03 for Health Care Select Sector SPDR Fund, $172.82 for SPDR Gold Trust, $31.65 for VanEck Gold Miners ETF
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| Trigger levels: | $75.618 for Health Care Select Sector SPDR Fund, $103.692 for SPDR Gold Trust, $18.99 for VanEck Gold Miners ETF, 60% of initial levels
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| Coupon barrier: | $88.221 for Health Care Select Sector SPDR Fund, $120.974 for SPDR Gold Trust, $22.155 for VanEck Gold Miners ETF, 70% of the initial levels
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| Pricing date: | May 11
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| Settlement date: | May 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133FM85
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