Published on 8/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.29 million 11.25% autocallable contingent interest notes on index, ETFs
New York, Aug. 10 – JPMorgan Chase Financial Co. LLC priced $5.29 million of autocallable contingent interest notes due Feb. 12, 2025 linked to the Russell 2000 index, SPDR S&P Regional Banking ETF and iShares MSCI Eurozone ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Feb. 7, 2024 at par 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: | Russell 2000 index, SPDR S&P Regional Banking ETF and iShares MSCI Eurozone ETF
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| Amount: | $5,292,000
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| Maturity: | Feb. 12, 2025
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| Coupon: | 11.25%, paid monthly, if each underlier closes at or above its 70% 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 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 starting Feb. 7, 2024 at par 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: | 1,958.935 for Russell 2000, $49.04 for SPDR S&P Regional Banking ETF, $45.84 for iShares MSCI Eurozone ETF
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| Trigger levels: | 1,175.361 for Russell 2000, $29.424 for SPDR S&P Regional Banking ETF, $27.504 for iShares MSCI Eurozone ETF, 60% of initial level
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| Coupon barriers: | 1,371.2545 for Russell 2000, $34.328 for SPDR S&P Regional Banking ETF, $32.088 for iShares MSCI Eurozone ETF, 70% of initial levels
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35071%
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| Cusip: | 48133Y2T0
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