Published on 11/21/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $593,000 16.1% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Nov. 21 – JPMorgan Chase Financial Co. LLC priced $593,000 of autocallable contingent interest notes due March 21, 2024 linked to the Consumer Staples Select Sector SPDR Fund, Energy Select Sector SPDR Fund and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.1%, 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 June 21 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: | Consumer Staples Select Sector SPDR Fund, Energy Select Sector SPDR Fund and Tesla, Inc.
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| Amount: | $593,000
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| Maturity: | March 21, 2024
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| Coupon: | 16.1%, 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 June 21 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: | $74.19 for Consumer, $73.88 for Energy, $905.39 for Tesla
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| Trigger levels: | $44.514 for Consumer, $44.328 for Energy, $543.234 for Tesla, 60% of initial level
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133DTH3
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