Published on 3/3/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.5 million callable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., March 3 – JPMorgan Chase Financial Co. LLC sold $3.5 million of callable contingent interest notes due Aug. 30, 2023 linked to the performance of the S&P 500 index, the Dow Jones industrial average and the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent quarterly coupon at an annual rate of 12.35% if each underlier closes at or above its interest barrier level, 80% of its initial level, on the corresponding review date.
The notes will be callable at par plus any coupon otherwise due on any quarterly call date other than the first, second and final dates.
The payout at maturity will be par plus the final coupon unless any underlier finishes below the 80% trigger value, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
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: | Callable contingent interest notes
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| Underlying assets: | S&P 500 index, Dow Jones industrial average, Financial Select Sector SPDR Fund
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| Amount: | $3.5 million
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| Maturity: | Aug. 30, 2023
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| Coupon: | 12.35% annualized, payable quarterly if each underlier closes at or above interest barrier level on the relevant review date
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any underlier finishes below trigger level, in which case 1% loss for each 1% decline of worst performer from initial level
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| Call option: | At par plus any coupon due on any quarterly call date other than the first, second and final ones
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| Initial levels: | $39.10 for ETF, 4,384.65 for S&P, 34,058.75 for Dow
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| Interest barriers: | $31.28 for ETF, 3,507.72 for S&P, 27,247.0 for Dow; 80% of initial levels
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| Trigger values: | $31.28 for ETF, 3,507.72 for S&P, 27,247.0 for Dow; 80% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | March 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133DKW9
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