Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.12 million 7.65% autocallable contingent interest notes on Dow, ETF
Chicago, Oct. 16 – JPMorgan Chase Financial Co. LLC priced $1.12 million of autocallable contingent interest notes due Oct. 14, 2027 linked to the lesser performing of the Dow Jones industrial average and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.65%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Oct. 11, 2024 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Dow Jones industrial average and SPDR S&P 500 ETF Trust
|
| Amount: | $1,119,000
|
| Maturity: | Oct. 14, 2027
|
| Coupon: | 7.65% annual rate, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting Oct. 11, 2024 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial levels: | 29,239.19 for Dow, $357.74 for S&P ETF
|
| Coupon barriers: | 21,929.3925 for Dow, $268.305 for S&P ETF, 75% of initial levels
|
| Trigger levels: | 20,467.433 for Dow, $250.418 for S&P ETF, 70% of initial level
|
| Pricing date: | Oct. 11, 2022
|
| Settlement date: | Oct. 14, 2022
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4.125%
|
| Cusip: | 48133N5L8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
