Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.36 million autocallable yield notes on S&P, Russell, Dow
By Kiku Steinfeld
Chicago, March 28 – JPMorgan Chase Financial Co. LLC. priced $1.36 million of 7.75% autocallable yield notes due Dec. 27, 2022 linked to the lesser performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable quarterly.
The notes will be called at par plus the coupon if each index closes at or above its initial level on any quarterly review date after six months other than the final one.
The payout at maturity will be par plus the final coupon unless either index ever closes below its 75% trigger level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
JPMorgan Chase Financial Co. LLC. is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable yield notes
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| Underlying indexes: | S&P 500, Dow Jones industrial average and Russell 2000
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| Amount: | $1,355,000
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| Maturity: | Dec. 27, 2022
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| Coupon: | 7.75%, payable quarterly
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| Price: | Par
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| Call: | Automatically at par plus coupon if each index closes at or above initial level on a quarterly observation date after six months other than final one
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| Payout at maturity: | Par plus final coupon unless either index ever closes below its trigger level during life of the notes and either index finishes below its initial level, in which case full exposure to decline of lesser performing index
|
| Initial levels: | 4,354.19 for S&P, 2,186.183 for Russell and 33,919.84 for Dow
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| Trigger levels: | 3,265.6425 for S&P, 1,639.63725 for Russell, 25,439.88 for Dow, 75% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48132WVJ5
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