Published on 2/11/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $404,000 contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Feb. 11 – JPMorgan Chase Financial Co. LLC priced $404,000 of autocallable contingent interest notes due Aug. 3, 2023 tied to the least performing of the iShares Russell 2000 Value ETF, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 9.8% per year if each asset closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any monthly review date other than the first, second and final review dates.
If the notes have not been called, the payout at maturity will be par unless any asset finishes below 60% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial 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: | Autocallable contingent interest notes
|
| Underliers: | iShares Russell 2000 Value ETF, S&P 500 index and Nasdaq-100 index
|
| Amount: | $404,000
|
| Maturity: | Aug. 3, 2023
|
| Coupon: | 9.8% per year, payable monthly if each asset closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset finishes below its trigger value, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level
|
| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any monthly review date other than the first, second and final ones
|
| Initial levels: | 4,515.55 for S&P, $156.34 for Russell, 14,930.05 for Nasdaq
|
| Interest barriers: | 3,160.885 for S&P, $109.438 for Russell, 10,451.035 for Nasdaq, 70% of initial levels
|
| Trigger levels: | 2,709.33 for S&P, $93.804 for Russell, 8,958.03 for Nasdaq, 60% of initial levels
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 3
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35%
|
| Cusip: | 48133CZL9
|
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