Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $478,000 7.45% contingent interest autocallables on three indexes
By Kiku Steinfeld
Chicago, April 27 – JPMorgan Chase Financial Co. LLC priced $478,000 of autocallable contingent interest notes due June 27, 2024 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.45%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting June 22, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing index closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing 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 indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $478,000
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| Maturity: | June 27, 2024
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| Coupon: | 7.45%, paid monthly, if each 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 worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting June 22, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date
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| Initial levels: | 33,027.49 for Dow, 10,956.14 for Nasdaq, 1,754.086 for Russell
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| Trigger levels: | 19,816.494 for Dow, 6,573.684 for Nasdaq, 1,052.4516 for Russell, 60% of initial levels
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| Coupon barriers: | 23,119.243 for Dow, 7,669.298 for Nasdaq, 1,227.8602 for Russell, 70% of initial levels
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133TFR1
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