Published on 3/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $424,000 11.65% autocallable contingent interest autocalls on index, ETFs
By Kiku Steinfeld
Chicago, March 13 – JPMorgan Chase Financial Co. LLC priced $424,000 of autocallable contingent interest notes due Dec. 3, 2026 linked to the S&P 500 index, VanEck Gold Miners ETF and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.65%, paid monthly, if each underlier closes at or above its 50% trigger level on the related monthly observation date.
The securities will be called automatically starting Nov. 28, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 50% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | S&P 500 index, VanEck Gold Miners ETF and iShares Russell 2000 Value ETF
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| Amount: | $424,000
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| Maturity: | Dec. 3, 2026
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| Coupon: | 11.65%, paid monthly, if each underlier closes at or above its 50% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting Nov. 28, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | 3,963.94 for S&P, $27.30 for VanEck, $145.17 for iShares
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| Trigger levels: | 1,981.97 for S&P, $13.65 for VanEck, $72.585 for iShares, 50% 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: | 0.55307%
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| Cusip: | 48133P3D3
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