Published on 2/18/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $180,000 uncapped accelerated barrier notes on sector funds
By Kiku Steinfeld
Chicago, Feb. 20 – JPMorgan Chase Financial Co. LLC priced $180,000 of 0% uncapped accelerated barrier notes due Nov. 19, 2024 linked to the Energy Select Sector SPDR Fund and Health Care Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains, the payout at maturity will be par plus 169% of the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but finishes above its 50% barrier. Investors will lose 1% for every 1% that the worst performing ETF declines if it closes below its barrier.
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: | Uncapped accelerated barrier notes
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Underlying ETFs: | Energy Select Sector SPDR Fund and Health Care Select Sector SPDR Fund
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Amount: | $180,000
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Maturity: | Nov. 19, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF gains, par plus 169% of worst performing ETF return; par if worst performing ETF declines but finishes above its downside barrier; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside barrier
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Initial levels: | $93.10 for Energy, $133.25 for Health
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Upside leverage: | 169%
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Cap: | None
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Barriers: | $46.55 for Energy, $66.625 for Health, 50% of initial level
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Pricing date: | Nov. 14, 2022
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Settlement date: | Nov. 17, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.45%
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Cusip: | 48133PSM6
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