Published on 6/22/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.5 million contingent interest notes linked to three ETFs
New York, June 22 – JPMorgan Chase Financial Co. LLC priced $2.5 million of contingent interest notes due Dec. 17, 2024 linked to the Invesco QQQ Trust, Series 1, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.4%, paid quarterly, if each underlying fund closes at or above its 75% trigger level on the related quarterly observation date.
If the worst performing ETF finishes at or above its 75% trigger value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial level.
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: | Contingent interest notes
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| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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| Amount: | $2.5 million
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| Maturity: | Dec. 17, 2024
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| Coupon: | 11.4%, paid quarterly, if each underlying fund closes at or above its 75% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above its 75% trigger value, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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| Initial levels: | $360.49 for Invesco QQQ Trust, Series 1, $433.80 for SPDR S&P 500, $185.80 for iShares Russell 2000 ETF
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| Trigger values: | $270.3675 for Invesco QQQ Trust, Series 1, $325.35 for SPDR S&P 500, $139.35 for iShares Russell 2000 ETF, 75% of initial levels
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| Strike date: | June 12
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| Pricing date: | June 13
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| Settlement date: | June 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.3%
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| Cusip: | 48133XSH0
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