By Wendy Van Sickle
Columbus, Ohio, June 2 – JPMorgan Chase Financial Co. LLC priced $9 million of buffered callable range accrual notes due May 28, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The interest rate is 4.35% per year multiplied by the proportion of days on which the index's closing level is greater than or equal to 85% of the initial index level. Interest is payable monthly.
If the index return is greater than or equal to negative 15%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.
Beginning May 28, 2022, the notes will be callable at par on any interest payment date.
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: | Buffered callable range accrual notes
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Underlying index: | Russell 2000
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Amount: | $9 million
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Maturity: | May 28, 2026
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Coupon: | 4.35% annualized for each day index closes at or above 85% barrier; payable monthly
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Price: | Par of $1,000
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Payout at maturity: | Par if index finishes at or above buffer level; otherwise, 1% loss for every 1% decline beyond 15%
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Call option: | At par on any interest payment date beginning May 28, 2022
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Initial level: | 2,205.75
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Buffer level: | 1,874.88755, 85% of initial level
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Pricing date: | May 22
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Settlement date: | May 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.5%
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Cusip: | 48130UWB7
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