Published on 11/20/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $340,000 uncapped digital barrier notes linked to ARK ETFs
By Kiku Steinfeld
Chicago, Nov. 21 – JPMorgan Chase Financial Co. LLC priced $340,000 of 0% uncapped digital barrier notes due March 23, 2026 linked to the ARK Fintech Innovation ETF, ARK Genomic Revolution ETF and ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF ends above its 70% barrier, the payout at maturity will be par plus the greater of the worst performing ETF return and 84%. Investors will lose 1% for every 1% that the worst performing ETF declines if it finishes below the barrier.
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: | Uncapped digital barrier notes
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Underlying ETFs: | ARK Fintech Innovation ETF, ARK Genomic Revolution ETF and ARK Innovation ETF
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Amount: | $340,000
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Maturity: | March 23, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF finishes at or above its 70% barrier, par plus greater of worst performing ETF return and 84%; 1% loss for every 1% that worst performing ETF declines if it finishes below its barrier
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Initial levels: | $29.62 for Fintech, $46.18 for Genomic, $65.77 for Innovation ETF
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Digital payment: | 84%
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Barriers: | $20.734 for Fintech, $32.326 for Genomic Revolution ETF, $46.039 for Innovation, 70% of initial level
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133DMA5
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