Published on 6/26/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.12 million 9.2% autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, June 27 – JPMorgan Chase Financial Co. LLC priced $1.12 million of autocallable contingent interest notes due June 20, 2023 linked to the S&P 500 index, Nasdaq-100 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.2%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting March 14, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 65% trigger level, in which case investors will be fully exposed to the decline of the worst performing asset.
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: | S&P 500 index, Nasdaq-100 index and iShares Russell 2000 Value ETF
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Amount: | $1,124,000
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Maturity: | June 20, 2023
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Coupon: | 9.2%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset closes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically starting March 14, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | 15,914.90 for Nasdaq, 4,634.09 for S&P, $159.85 for fund
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Trigger levels: | 10,344.685 for Nasdaq, 3,012.1585 for S&P, $103.9025 for fund, 65% of initial levels
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Coupon barrier: | 11,140.43 for Nasdaq, 3,243.863 for S&P, $111.895 for fund, 70% of initial levels
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Pricing date: | Dec. 14, 2021
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Settlement date: | Dec. 17, 2021
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.52549%
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Cusip: | 48132YW92
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