Published on 2/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $245,000 autocallable contingent interest notes on indexes
By William Gullotti
Buffalo, N.Y., Feb. 7 – JPMorgan Chase Financial Co. LLC priced $245,000 of autocallable contingent interest notes due Oct. 20, 2022 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, 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 9.5% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any monthly review date other than the first, second and final review dates.
The payout at maturity will be par plus the final coupon unless any index finishes below its initial level and any index closes below its 70% trigger value during the life of the notes, 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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $245,000
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| Maturity: | Oct. 20, 2022
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| Coupon: | 9.5% annual rate, payable monthly if each index closes at or above interest barrier level on review date for that period
|
| Price: | Par
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| Payout at maturity: | Par plus any coupon unless any index finishes below initial level and any index closes below its trigger level during the life of the notes, in which case 1% loss for each 1% decline of least performing index from initial level
|
| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date except for the first, second and final dates
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| Initial levels: | 14,026.19 for Nasdaq, 2,257.068 for Russell, 4,170.42 for S&P
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| Interest barrier: | 9,818.333 for Nasdaq, 1,579.9476 for Russell, 2,919.294 for S&P; 70% of initial levels
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| Trigger levels: | 9,818.333 for Nasdaq, 1,579.9476 for Russell, 2,919.294 for S&P; 70% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.44082%
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| Cusip: | 48132TRV0
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