Published on 6/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $330,000 uncapped dual directional accelerated barrier notes on ETFs
By Kiku Steinfeld
Chicago, June 21 – JPMorgan Chase Financial Co. LLC priced $330,000 of 0% uncapped dual directional accelerated barrier notes Aug. 5, 2025 linked to the SPDR Gold Trust and the iShares Silver Trust, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The payout at maturity will be par plus 1.5 times the gain of the worst performer, capped at 15%, if both ETFs finish above their initial levels.
If either ETF falls but each ETF finishes at or above 80% of its initial level, the payout will be par plus the absolute value of the lesser performing ETF return.
Otherwise, investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
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 dual directional accelerated barrier notes
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| Underlying ETFs: | SPDR Gold Trust and iShares Silver Trust
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| Amount: | $330,000
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| Maturity: | Aug. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If both ETFs finish above initial level, par plus 1.5 times return of worst performer; if either ETF declines but neither finishes below barrier level, par plus absolute value of lesser performing ETF; otherwise, 1% loss for each 1% decline below initial level of worst performer
|
| Initial levels: | $179.41 for Gold, $21.83 for Silver
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| Barrier levels: | $143.528 for Gold, $17.464 for Silver, 80% of initial levels
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| Pricing date: | Jan. 31, 2023
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| Settlement date: | Feb. 3, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133T4K8
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