Published on 6/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $254,000 12% callable contingent interest notes on three ETFs
By Kiku Steinfeld
Chicago, June 21 – JPMorgan Chase Financial Co. LLC priced $254,000 of callable contingent interest notes due Dec. 4, 2023 linked to 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 12%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date.
If the worst performing ETF closes at or above its 70% 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 securities may be called at par starting June 3, 2022 and on any subsequent quarterly determination date.
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: | Callable contingent interest notes
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| Underlying ETFs: | SPDR S&P Oil & Gas Exploration & Production ETF, Energy Select Sector SPDR Fund and SPDR Gold Trust
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| Amount: | $254,000
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| Maturity: | Dec. 4, 2023
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| Coupon: | 12%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date
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| Price: | Par
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| 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: | At par starting June 3, 2022 and on any subsequent quarterly determination date
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| Initial levels: | $55.90 for Energy, $166.62 for Gold, $100.03 for Oil
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| Downside thresholds: | $39.13 for Energy, $116.634 for Gold, $70.021 for Oil, 70% of initial levels
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| Pricing date: | Nov. 29, 2021
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| Settlement date: | Dec. 2, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48132YWS0
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