Published on 9/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.2 million autocallable contingent interest notes on three ETFs
New York, Sept. 28 – JPMorgan Chase Financial Co. LLC priced $5.2 million of autocallable contingent interest notes due Sept. 25, 2025 linked to the Invesco QQQ Trust, Series 1, the SPDR Dow Jones industrial average 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 11.05%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if each fund closes at or above its initial level on any quarterly review date starting March 22, 2024.
At maturity, the payout will be par unless the worst performing ETF finishes 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR Dow Jones industrial average ETF Trust and iShares Russell 2000 ETF
|
| Amount: | $5,197,000
|
| Maturity: | Sept. 25, 2025
|
| Coupon: | 11.05%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing ETF finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing ETF
|
| Call: | Automatically at par if each fund closes at or above its initial level on any quarterly review date starting March 22, 2024
|
| Initial levels: | $357.91 for Invesco QQQ Trust, Series 1, $339.58 for SPDR Dow Jones industrial average, $176.67 for iShares Russell 2000 ETF
|
| Trigger levels: | $250.537 for Invesco QQQ Trust, Series 1, $237.706 for SPDR Dow Jones industrial average, $123.669 for iShares Russell 2000 ETF, 70% of initial levels
|
| Coupon barriers: | $286.328 for Invesco QQQ Trust, Series 1, $271.664 for SPDR Dow Jones industrial average, $141.336 for iShares Russell 2000 ETF, 80% of initial levels
|
| Pricing date: | Sept. 22
|
| Settlement date: | Sept. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 48134A3B9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
