Published on 6/28/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.5 million contingent interest notes on Nasdaq, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, June 28 – JPMorgan Chase Financial Co. LLC priced $1.5 million of contingent interest notes due June 23, 2023 linked to the least performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent monthly coupon at a rate of 12.25% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the review date for that period.
The payout at maturity will be par unless any index finishes below its 70% trigger value, in which case investors will be fully exposed to the decline of the least-performing index.
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: | Contingent interest notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $1.5 million
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| Maturity: | June 23, 2023
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| Coupon: | 12.25% annual rate, payable monthly if each index closes at or above its coupon barrier on the review date for that period
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below its trigger value, in which case investors will be fully exposed to the decline of the least-performing index
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| Initial levels: | 11,265.99 for Nasdaq, 1,665.694 for Russell, 3,674.84 for S&P
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| Coupon barrier levels: | 7,886.193 for Nasdaq, 1,165.9858 for Russell, 2,572.388 for S&P; 70% of initial levels
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| Trigger levels: | 7,886.193 for Nasdaq, 1,165.9858 for Russell, 2,572.388 for S&P; 70% of initial levels
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| Pricing date: | June 17
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| Settlement date: | June 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133G6A6
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