Published on 4/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.41 million 8.5% autocallable contingent interest notes on indexes, fund
New York, April 10 – JPMorgan Chase Financial Co. LLC priced $1.41 million of autocallable contingent interest notes due April 10, 2025 linked to the Euro Stoxx 50 index, Industrial Select Sector SPDR Fund and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Oct. 5, 2023 if the level of each underlier is greater than or equal to its initial price on any quarterly 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: | Euro Stoxx 50 index, Industrial Select Sector SPDR Fund and S&P 500 index
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| Amount: | $1,407,000
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| Maturity: | April 10, 2025
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| Coupon: | 8.5%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons
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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 Oct. 5, 2023 if the level of each underlier is greater than or equal to its initial price on any quarterly review date
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| Initial levels: | 4,298.36 for Euro Stoxx 50, $97.80 for Industrial Select Sector SPDR Fund, 4,090.38 for S&P 500
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| Trigger levels: | 2,579.016 for Euro Stoxx 50, $58.68 for Industrial Select Sector SPDR Fund, 2,454.228 for S&P 500, 60% of initial level
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| Coupon barriers: | 3,008.852 for Euro Stoxx 50, $68.46 for Industrial Select Sector SPDR Fund, 2,863.266 for S&P 500, 70% of initial levels
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| Pricing date: | April 5
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| Settlement date: | April 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133VLV0
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