Published on 12/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $618,000 17.5% autocallable contingent interest notes on Large Cap
Chicago, Dec. 1 – JPMorgan Chase Financial Co. LLC priced $618,000 of autocallable contingent interest notes due Oct. 28, 2027 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.5%, 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 starting April 25, 2023 at par and on any subsequent quarterly review date if the index closes above its initial level.
At maturity the payout will be par unless the index closes below its 50% 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 Large-Cap Vol Advantage index
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Amount: | $618,000
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Maturity: | Oct. 28, 2027
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Coupon: | 17.5% annual rate, 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 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 April 25, 2023 at par and on any subsequent quarterly review date if index closes above initial level
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Initial level: | 2,359.36
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Coupon barrier: | 1,651.552, 70% of initial level
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Trigger level: | 1,179.68, 50% of initial level
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Pricing date: | Oct. 25, 2022
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Settlement date: | Oct. 28, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.25%
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Cusip: | 48133N3U0
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