Published on 4/27/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.37 million contingent interest autocalls on index, ETF
By Kiku Steinfeld
Chicago, April 27 – JPMorgan Chase Financial Co. LLC priced $1.37 million of autocallable contingent interest notes due Oct. 3, 2024 tied to the least performing of the iShares MSCI Emerging Markets ETF and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.35% if each underlying asset closes at or above its 70% coupon barrier on the coupon review date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly autocall review date other than the first and final review dates.
The payout at maturity will be par unless any underlier finishes below its 70% barrier level, in which case investors will be exposed to any losses of the worst performing index or fund.
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 assets: | iShares MSCI Emerging Markets ETF and Euro Stoxx 50 index
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| Amount: | $1,365,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 7.35%, payable quarterly if each underlying asset closes at or above its coupon barrier on the coupon review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any underlier finishes below its barrier level, in which case investors will be exposed to any losses of the worst performing index or fund
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| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial price on any quarterly autocall review date other than the first and final review dates
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| Initial levels: | 4,058.82 for index and $50.45 for ETF
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| Coupon barriers: | 2,841.174 for index and $35.315 for ETF, 70% of initial levels
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| Barrier values: | 2,841.174 for index and $35.315 for ETF, 70% of initial levels
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| Pricing date: | Sept. 28, 2021
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| Settlement date: | Sept. 30, 2021
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48132WZZ5
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