Published on 5/6/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.17 million contingent interest autocalls on three indexes
By William Gullotti
Buffalo, N.Y., May 6 – JPMorgan Chase Financial Co. LLC priced $1.17 million of autocallable contingent interest notes due Feb. 1, 2023 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 12.20004%, or 9.15% for the term, 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.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 70% trigger value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below 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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $1,166,000
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| Maturity: | Feb. 1, 2023
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| Coupon: | 12.20004% annual rate, or 9.15% for the term, 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 closes below its trigger value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call: | Automatically at par plus contingent coupon if each index closes at or above initial level on any monthly review date other than the first, second and final ones
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| Initial levels: | 4,183.96 for S&P, 13,003.36 for Nasdaq, 1,884.038 for Russell
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| Interest barrier: | 2,928.772 for S&P, 9,102.352 for Nasdaq, 1,318.8266 for Russell; 70% of initial levels
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| Trigger levels: | 2,928.772 for S&P, 9,102.352 for Nasdaq, 1,318.8266 for Russell; 70% of initial levels
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| Pricing date: | April 27
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| Settlement date: | May 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.6%
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| Cusip: | 48133FVL6
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