Published on 9/8/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $310,000 12.55% contingent interest autocallables on indexes, biotech ETF
New York, Sept. 8 – JPMorgan Chase Financial Co. LLC priced $310,000 of autocallable contingent interest notes due Sept. 11, 2025 linked to the Nasdaq-100 index, Russell 2000 index and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.55%, 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 March 7, 2023 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: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Biotech ETF
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Amount: | $310,000
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Maturity: | Sept. 11, 2025
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Coupon: | 12.55%, 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 March 7, 2023 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: | 12,259.39 for Nasdaq-100, 1,832.003 for Russell 2000, $84.79 for SPDR S&P Biotech ETF
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Trigger levels: | 7,355.634 for Nasdaq-100, 1,099.2018 for Russell 2000, $50.874 for SPDR S&P Biotech ETF, 60% of initial level
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Coupon barriers: | 8,581.573 for Nasdaq-100, 1,282.4021 for Russell 2000, $59.353 for SPDR S&P Biotech ETF, 70% of initial levels
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Pricing date: | Sept. 7, 2022
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Settlement date: | Sept. 12, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.9%
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Cusip: | 48133MQ86
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