By Kiku Steinfeld
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $2.73 million of trigger autocallable contingent yield notes due Feb. 29, 2028 linked to the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if the ETF closes at or above its coupon barrier, 60% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the contingent coupon if the ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if the ETF finishes at or above the 60% downside threshold level.
Otherwise, investors will lose 1% for every 1% of ETF decline from its initial level. Otherwise, or each 1% decline from initial level.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying ETF: | SPDR S&P Metals & Mining ETF
|
| Amount: | $2,728,330
|
| Maturity: | Feb. 29, 2028
|
| Coupon: | 12.5% annual rate, payable quarterly if the ETF closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon if the ETF finishes at or above downside threshold; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | At par plus coupon if the ETF closes at or above initial level on any quarterly observation date after six months
|
| Initial ETF level: | $53.79
|
| Coupon barrier level: | $32.27; 60% of initial level
|
| Downside threshold: | $32.27; 60% of initial level
|
| Pricing date: | Feb. 24, 2023
|
| Settlement date: | Feb. 28, 2023
|
| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
|
| Fees: | 0%
|
| Cusip: | 48133K229
|
|
|
|
|
© 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.
