Published on 6/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.1 million contingent interest notes on Nasdaq, S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, June 22 – JPMorgan Chase Financial Co. LLC priced $1.1 million of contingent interest notes due Dec. 15, 2022 linked to the least performing of the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, 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 monthly coupon at an annual rate of 5.85% if each index closes at or above its interest barrier level, 60% 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 lose 1% for each 1% decline from the worst performer’s 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: | Contingent interest notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $1,096,000
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| Maturity: | Dec. 15, 2022
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| Coupon: | 5.85% annual rate, payable monthly if each index closes at or above interest barrier level on 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 1% loss for each 1% decline of least performing index from initial level
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| Initial index levels: | 11,832.82 for Nasdaq, 31,392.79 for Dow, 3,900.86 for S&P
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| Interest barrier levels: | 7,099.692 for Nasdaq, 18,835.674 for Dow, 2,340.516 for S&P, 60% of initial levels
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| Trigger levels: | 7,099.692 for Nasdaq, 18,835.674 for Dow, 2,340.516 for S&P, 60% of initial levels
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| Pricing date: | June 14
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| Settlement date: | June 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133G2W2
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