Published on 1/10/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $95,000 7% autocallable contingent interest notes on two ETFs
By Kiku Steinfeld
Chicago, Jan. 10 – JPMorgan Chase Financial Co. LLC priced $95,000 of autocallable contingent interest notes due Oct. 30, 2024 linked to the Health Care Select Sector SPDR Fund and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid monthly, if each underlying fund closes at or above its 65% coupon barrier on the related monthly observation date.
The securities will be called automatically starting July 25, 2023 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 70% 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: | Health Care Select Sector SPDR Fund and iShares Russell 2000 ETF
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Amount: | $95,000
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Maturity: | Oct. 30, 2024
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Coupon: | 7%, paid monthly, if each underlying fund closes at or above its 65% 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 July 25, 2023 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: | $133.61 for Health Care Select Sector SPDR Fund, $173.06 for iShares Russell 2000 ETF
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Trigger levels: | $93.527 for Health Care Select Sector SPDR Fund, $121.142 for iShares Russell 2000 ETF, 70% of initial level
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Coupon barriers: | $86.8465 for Health Care Select Sector SPDR Fund, $112.489 for iShares Russell 2000 ETF, 65% of initial levels
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Pricing date: | April 25, 2023
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Settlement date: | April 28, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133VZ29
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