Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.49 million 10.65% autocallable contingent interest notes on funds
New York, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $2.49 million of autocallable contingent interest notes due Feb. 21, 2025 linked to the Energy Select Sector SPDR Fund, Health Care Select Sector SPDR Fund and Industrial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.65%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Feb. 15, 2024 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Energy Select Sector SPDR Fund, Health Care Select Sector SPDR Fund and Industrial Select Sector SPDR Fund
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| Amount: | $2,485,000
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| Maturity: | Feb. 21, 2025
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| Coupon: | 10.65%, paid monthly, if each underlying fund 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 ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically starting Feb. 15, 2024 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date
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| Initial levels: | $87.66 for Energy Select Sector SPDR Fund, $135.58 for Health Care Select Sector SPDR Fund, $107.54 for Industrial Select Sector SPDR Fund
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| Trigger levels: | $52.596 for Energy Select Sector SPDR Fund, $81.348 for Health Care Select Sector SPDR Fund, $64.524 for Industrial Select Sector SPDR Fund, 60% of initial level
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| Coupon barriers: | $61.362 for Energy Select Sector SPDR Fund, $94.906 for Health Care Select Sector SPDR Fund, $75.278 for Industrial Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Aug. 15
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| Settlement date: | Aug. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48133YN34
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