Published on 7/19/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $668,000 6.75% autocallable contingent interest notes on two indexes
By Kiku Steinfeld
Chicago, July 19 – JPMorgan Chase Financial Co. LLC priced $668,000 of autocallable contingent interest notes due July 5, 2023 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.75%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting March 29, 2022 if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing index closes below its 65% trigger level, in which case investors will be fully exposed to the decline of the worst performing index.
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: | Autocallable contingent interest notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $668,000
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Maturity: | July 5, 2023
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Coupon: | 6.75%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically starting March 29, 2022 if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date
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Initial levels: | 2,249.244 for Russell, 4,793.06 for S&P
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Trigger levels: | 1,462.0086 for Russell, 3,115.489 for S&P, 65% of initial level
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Coupon barrier: | 1,574.4708 for Russell, 3,355.142 for S&P, 70% of initial levels
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Pricing date: | Dec. 29
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Settlement date: | Jan. 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.725%
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Cusip: | 48133CGL0
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