Published on 4/14/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1 million contingent interest notes on the Dow, Russell, S&P
By William Gullotti
Buffalo, N.Y., April 14 – JPMorgan Chase Financial Co. LLC priced $1 million of contingent interest notes due July 13, 2023 linked to the lesser performing of the S&P 500 index, the Dow Jones industrial average 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 6.25% 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 60% 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: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $1 million
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| Maturity: | July 13, 2023
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| Coupon: | 6.25% 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: | 34,721.12 for Dow, 1,994.562 for Russell, 4,488.28 for S&P
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| Coupon barrier: | 24,304.784 for Dow, 1,396.1934 for Russell, 3,141.796 for S&P; 70% of initial levels
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| Trigger levels: | 20,832.672 for Dow, 1,196.7372 for Russell, 2,692.968 for S&P; 60% of initial levels
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| Pricing date: | April 8
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| Settlement date: | April 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133FHX6
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