Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.6 million autocallable contingent interest notes tied to MerQube index
New York, June 13 – JPMorgan Chase Financial Co. LLC priced $1.6 million of autocallable contingent interest notes due June 1, 2028 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 8.8%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of the index is greater than or equal to its initial level on any monthly review date starting May 28, 2024.
At maturity, the payout will be par unless the index finishes below its 60% trigger level, in which case investors will lose 1% for every 1% decline beyond 40%.
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: | $1,598,000
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| Maturity: | June 1, 2028
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| Coupon: | 8.8%, paid monthly, if the underlying index 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 index finishes below its trigger level, in which case investors will lose 1% for every 1% decline beyond 40%
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| Call: | Automatically at par if the closing level of the index is greater than or equal to its initial level on any monthly review date starting May 28, 2024
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| Initial level: | 7,946.68
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| Trigger level: | 4,768.008, 60% of initial level
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| Coupon barrier: | 5,562.676, 70% of initial level
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.25%
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| Cusip: | 48133WQD3
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