Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.38 million 10.7% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, March 3 – JPMorgan Chase Financial Co. LLC priced $1.38 million of autocallable contingent interest notes due Aug. 26, 2024 linked to the Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.7%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Nov. 21, 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 60% 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: | Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF
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Amount: | $1,376,000
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Maturity: | Aug. 26, 2024
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Coupon: | 10.7%, paid monthly, if each underlier 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 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. 21, 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: | 1,839.141 for Russell, 3,949.94 for S&P, $146.12 for iShares
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Trigger levels: | 1,103.4846 for Russell, 2,369.964 for S&P, $87.672 for iShares, 60% of initial level
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Coupon barriers: | 1,287.3987 for Russell, 2,764.958 for S&P, $102.284 for iShares , 70% of initial levels
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Pricing date: | Nov. 21, 2022
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Settlement date: | Nov. 25, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.7111%
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Cusip: | 48133P2B8
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