Published on 8/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $800,000 10.7% autocallable contingent interest notes on two ETFs
By Kiku Steinfeld
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $800,000 of autocallable contingent interest notes due July 19, 2023 linked to the 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 10.7%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
Starting April 14, 2022, the securities will be called automatically at par if each ETF closes at or above its initial level on any monthly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 60% 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: | $800,000
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| Maturity: | July 19, 2023
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| Coupon: | 10.7%, paid monthly, if each underlying fund 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 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: | Starting April 14, 2022, automatically at par if each ETF closes at or above its initial level on any monthly review date
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| Initial levels: | $70.45 for Invesco, $19.45 for iShares
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| Trigger levels: | $42.27 for Invesco, $11.67 for iShares, 60% of initial levels
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| Coupon barriers: | $49.315 for Invesco, $13.615 for iShares, 70% 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: | 0.65%
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| Cusip: | 48133CQB1
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