Published on 12/8/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $260,000 6.85% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Dec. 8 – JPMorgan Chase Financial Co. LLC priced $260,000 of autocallable contingent interest notes due Jan. 5, 2024 linked to the Dow Jones industrial average, S&P 500 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.85%, paid monthly, if each underlier closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par starting Sept. 30, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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: | Dow Jones industrial average, S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $260,000
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| Maturity: | Jan. 5, 2024
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| Coupon: | 6.85%, paid monthly, if each underlier closes at or above its 60% trigger level 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 closes 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 starting Sept. 30, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | 34,678.35 for Dow, 4,530.41 for S&P, $68.90 for SPDR
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| Trigger levels: | 20,807.01 for Dow, 2,718.246 for S&P, $41.34 for SPDR, 60% of initial level
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133FAC9
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