Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $360,000 14.3% autocallable contingent interest notes linked to tech index
Chicago, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $360,000 of autocallable contingent interest notes due July 22, 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 14.3%, 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 July 19, 2023 at par if the level of the underlying index is greater than or equal to its strike level and on any subsequent 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: | $360,000
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Maturity: | July 22, 2027
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Coupon: | 14.3% annual rate, 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 July 19, 2023 at par if the level of the underlying index is greater than or equal to its strike level and on any subsequent monthly review date
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Initial level: | 7,032.67
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Trigger level: | 4,219.602, 60% of initial level
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Strike date: | July 19, 2022
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Pricing date: | July 21, 2022
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Settlement date: | July 26, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.85%
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Cusip: | 48133L2N1
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