Published on 6/16/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $750,000 7.55% autocallable contingent interest on two ETFs
By Kiku Steinfeld
Chicago, June 16 – JPMorgan Chase Financial Co. LLC priced $750,000 of autocallable contingent interest notes due June 1, 2023 linked to iShares Global Clean Energy ETF and Invesco Solar ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.55%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically at par starting Feb. 28, 2022 and on any subsequent monthly review date if the least performer closes at or above its initial level.
At maturity the payout will be par unless the worst performing ETF closes below its 70% trigger level, in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | iShares Global Clean Energy ETF and Invesco Solar ETF
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| Amount: | $750,000
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| Maturity: | June 1, 2023
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| Coupon: | 7.55%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par starting Feb. 28, 2022 and on any subsequent monthly review date if least performer closes at or above its initial level
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| Initial levels: | $90.67 for Invesco, $23.60 for iShares
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| Trigger levels: | $63.469 for Invesco, $16.52 for iShares, 70% of initial levels
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| Pricing date: | Nov. 26, 2021
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| Settlement date: | Dec. 1, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.2%
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| Cusip: | 48132YZN8
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