Published on 11/7/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.23 million 9% autocallable contingent interest notes on three indexes
By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $1.23 million of autocallable contingent interest notes due March 12, 2027 linked to the Dow Jones industrial average, 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 9%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par starting June 9 and on any subsequent quarterly review date if each asset closes at or above its initial level.
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: | Dow Jones industrial average, S&P 500 index and iShares Russell 2000 Value ETF
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| Amount: | $1,234,000
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| Maturity: | March 12, 2027
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| Coupon: | 9%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
|
| 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 at par starting June 9 and on any subsequent quarterly review date if each asset closes at or above its initial level
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| Initial levels: | 33,286.25 for Dow, 4,277.88 for S&P, $158.29 for ETF
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| Trigger levels: | 19,971.75 for Dow, 2,566.728 for S&P, $94.974 for ETF, 60% of initial level
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| Coupon barriers: | 23,300.375 for Dow, 2,994.516 for S&P, $110.803 for ETF, 70% of initial levels
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| Pricing date: | March 9
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| Settlement date: | March 14
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.8%
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| Cusip: | 48133DRU6
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