Published on 5/6/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $74,000 contingent interest autocalls on Russell, S&P, Stoxx
By Kiku Steinfeld
Chicago, May 8 – JPMorgan Chase Financial Co. LLC priced $74,000 of autocallable contingent interest notes due Jan. 2, 2026 linked to the Euro Stoxx 50 index, the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid quarterly, if each underlying index closes at or above its 60% trigger level on the related quarterly observation date.
The securities will be called automatically starting June 29, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly 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: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $74,000
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| Maturity: | Jan. 2, 2026
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| Coupon: | 9.5%, paid quarterly, if each underlying index closes at or above its 60% trigger level on the related quarterly 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 29, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly review date
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| Initial levels: | 1,766.250 for Russell, 3,849.28 for S&P, 3,850.07 for Stoxx
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| Trigger levels: | 1,059.75 for Russell, 2,309.568 for S&P, 2,310.042 for Stoxx, 60% of initial levels
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| Pricing date: | Dec. 29, 2022
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| Settlement date: | Jan. 4, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133PJ79
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