Published on 8/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $300,000 10.55% autocallable yield notes linked to indexes, ETF
By Kiku Steinfeld
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $300,000 of autocallable yield notes due April 19, 2023 linked to the S&P 500 index, Russell 2000 index and ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par if each asset closes at or above its initial level on July 14, 2022, Oct. 14, 2022 or Jan. 17, 2023.
Investors will receive a coupon of 10.55%, paid monthly.
The payout at maturity will be par unless any asset closes below its downside threshold, 55% of its initial level, during the life of the notes and any asset finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performing asset declines.
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 yield notes
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| Underlying assets: | S&P 500 index, Russell 2000 index and ARK Innovation ETF
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| Amount: | $300,000
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| Maturity: | April 19, 2023
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| Coupon: | 10.55%, paid monthly
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| Price: | Par
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| Payout at maturity: | Par unless any asset closes below its downside threshold during the life of the notes and any asset finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performing asset declines
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| Call: | Automatically at par if each asset closes at or above its initial level on July 14, 2022, Oct. 14, 2022 or Jan. 17, 2023
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| Initial levels: | 2,162.456 for Russell, 4,662.85 for S&P, $80.24 for fund
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| Downside thresholds: | 1,189.3508 for Russell, 2,564.5675 for S&P, $44.132 for fund, 55% of initial levels
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| Pricing date: | Jan. 14
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| Settlement date: | Jan. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.975%
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| Cusip: | 48133CRN4
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