Published on 10/24/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.22 million autocallable contingent interest notes on indexes, ETF
New York, Oct. 24 – JPMorgan Chase Financial Co. LLC priced $3.22 million of autocallable contingent interest notes due June 20, 2025 linked to the Nasdaq-100 index, the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.6%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting Sept. 18, 2023.
At maturity, the payout will be par unless the worst performing asset finishes below its 50% trigger level, in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Nasdaq-100 index, S&P 500 index and SPDR S&P Regional Banking ETF
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Amount: | $3.22 million
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Maturity: | June 20, 2025
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Coupon: | 7.6%, paid monthly, if each underlier closes at or above its 60% 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 asset finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting Sept. 18, 2023
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Initial levels: | 11,861.38 for Nasdaq-100, 3,873.33 for S&P 500, $62.95 for SPDR S&P Regional Banking ETF
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Trigger levels: | 5,930.69 for Nasdaq-100, 1,936.665 for S&P 500, $31.475 for SPDR S&P Regional Banking ETF, 50% of initial levels
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Coupon barriers: | 7,116.828 for Nasdaq-100, 2,323.998 for S&P 500, $37.77 for SPDR S&P Regional Banking ETF, 60% of initial levels
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.7%
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Cusip: | 48133MU81
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