Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $302,000 11.45% autocallable yield notes linked to indexes, biotech ETF
New York, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $302,000 of autocallable yield notes due March 28, 2024 linked to the Russell 2000 index, S&P 500 index and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Starting March 23, 2023, the securities will be called automatically at par if each underlying asset closes at or above its initial level on any monthly review date.
Investors will receive a coupon of 11.45%, paid monthly.
If the worst performing asset ends above its 65% downside threshold the payout at maturity will be par plus the coupon. Otherwise investors will lose 1% for every 1% that the worst performing asset declines.
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 yield notes
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| Underlying assets: | Russell 2000 index, S&P 500 index and SPDR S&P Biotech ETF
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| Amount: | $302,000
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| Maturity: | March 28, 2024
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| Coupon: | 11.45%, paid monthly
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level par; otherwise 1% loss for every 1% that worst performing asset declines
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| Call: | Starting March 23, 2023, automatically at par if each underlying asset closes at or above initial level on any monthly review date
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| Initial levels: | 3,693.23 for S&P 500, 1,679.590 for Russell 2000, $76.65 for SPDR S&P Biotech ETF
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| Downside thresholds: | 2,400.5995 for S&P 500, 1,091.7335 for Russell 2000, $49.8225 for SPDR S&P Biotech ETF, 65% of initial level
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| Pricing date: | Sept. 23, 2022
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| Settlement date: | Sept. 28, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.2%
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| Cusip: | 48133MZS2
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