Published on 2/18/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 13% autocallable contingent interest notes on two ETFs
By Kiku Steinfeld
Chicago, Feb. 20 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due May 17, 2024 linked to the Invesco Solar ETF and iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting Feb. 14, 2023 on any quarterly review date if each ETF closes at or above its initial level.
At maturity the payout will be par unless the worst performing ETF closes below its 50% trigger level, in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Invesco Solar ETF and iShares Global Clean Energy ETF
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| Amount: | $250,000
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| Maturity: | May 17, 2024
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| Coupon: | 13%, paid monthly, if each underlying fund 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 ETF closes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par starting Feb. 14, 2023 on any quarterly review date if each ETF closes at or above its initial level
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| Initial levels: | $79.25 for Invesco, $20.27 for iShares
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| Trigger levels: | $39.625 for Invesco, $10.135 for iShares, 50% of initial level
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| Coupon barriers: | $55.475 for Invesco, $14.189 for iShares, 70% of initial levels
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| Pricing date: | Nov. 14, 2022
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| Settlement date: | Nov. 17, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.8%
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| Cusip: | 48133PUJ0
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