Published on 6/1/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $414,000 13.6% callable contingent interest notes linked to ETFs
Chicago, June 1 – JPMorgan Chase Financial Co. LLC priced $414,000 of callable contingent interest notes due Nov. 16, 2023 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, Energy Select Sector SPDR fund and SPDR Gold Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.6%, paid quarterly, if each underlying fund closes at or above its 65% interest barrier level on the related quarterly observation date.
The securities may be called at par starting May 17, 2022 and on any subsequent quarterly review date.
If the worst performing ETF gains or ends above its 65% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing ETF declines if it finishes below its downside threshold level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying ETFs: | SPDR S&P Oil & Gas Exploration & Production ETF, Energy Select Sector SPDR fund and SPDR Gold Trust
|
| Amount: | $414,000
|
| Maturity: | Nov. 16, 2023
|
| Coupon: | 13.6% annual rate, paid quarterly, if each underlying fund closes at or above its 65% interest barrier level on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside threshold level
|
| Call option: | Starting May 17, 2022 and on any subsequent quarterly review date at par
|
| Initial levels: | $57.55 for Energy, $174.45 for Gold, $107.42 for Oil
|
| Interest barrier levels: | $37.4075 for Energy, $113.3925 for Gold, $69.823 for Oil, 65% of initial levels
|
| Downside thresholds: | $37.4075 for Energy, $113.3925 for Gold, $69.823 for Oil, 65% of initial levels
|
| Pricing date: | Nov. 12, 2021
|
| Settlement date: | Nov. 17, 2021
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.75%
|
| Cusip: | 48132YPC3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
