Published on 3/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $129,000 15.25% contingent interest autocalls on MerQube US Tech+
By Kiku Steinfeld
Chicago, March 13 – JPMorgan Chase Financial Co. LLC priced $129,000 of autocallable contingent interest notes due Nov. 26, 2027 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.25%, paid monthly, if the underlying index closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting Nov. 22, 2023 at par if the index closes at or above its initial level on any monthly review date.
At maturity the payout will be par unless the index closes below its 60% trigger level in which case investors will be fully exposed to the decline of the index.
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 index: | MerQube US Tech+ Vol Advantage index
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Amount: | $129,000
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Maturity: | Nov. 26, 2027
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Coupon: | 15.25%, paid monthly, if the underlying index closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the index closes below its trigger level in which case investors will be fully exposed to the decline in the index
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Call: | Automatically starting Nov. 22, 2023 at par if index closes at or above initial level on any monthly review date
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Initial level: | 6,364.23 on strike date of Nov. 22, 2022
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Trigger level: | 3,818.538, 60% of initial level
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Pricing date: | Nov. 28, 2022
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Settlement date: | Dec. 1, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.85%
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Cusip: | 48133P4H3
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