Published on 9/25/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $53,000 autocallable barrier notes on MerQube US Large-Cap
By Kiku Steinfeld
Chicago, Sept. 25 – JPMorgan Chase Financial Co. LLC priced $53,000 of 0% autocallable barrier notes due March 19, 2026 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus the index return. Investors will receive par if the index declines but ends at or above its 50% barrier and they will lose 1% for every 1% that the index declines if it finishes below the barrier level.
The notes will be called automatically on March 18, 2024 at par plus 32% if the index closes at or above 100% of its initial value.
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 barrier notes
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Underlying index: | MerQube US Large-Cap Vol Advantage index
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Amount: | $53,000
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Maturity: | March 19, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial value, par plus index return; if index declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
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Initial level: | 2,216.16
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Downside threshold: | 1,108.08, 50% of initial level
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Call: | Automatically on March 18, 2024 at par plus 32% if the index closes at or above 100% of its initial value
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Pricing date: | March 14, 2023
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Settlement date: | March 16, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 5%
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Cusip: | 48133UP22
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