Published on 3/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 20% autocallable contingent interest notes on stocks, ETF
By Kiku Steinfeld
Chicago, March 10 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Nov. 29, 2024 linked to Meta Platforms, Inc., Shopify Inc. and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20% per year, paid monthly, if each underlier closes at or above its 50% trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Feb. 23, 2023 at par and on any subsequent quarterly review date if each stock closes at or above its initial level.
At maturity the payout will be par if each stock closes at or above its 50% trigger level or any stock closes at or above its initial level. Otherwise, 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: | Meta Platforms, Inc., Shopify Inc. and SPDR S&P 500 ETF Trust
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| Amount: | $250,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 20% per year, paid monthly, if each underlier closes at or above its 50% trigger level on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if each stock closes at or above its 50% trigger level or any stock closes at or above its initial level; otherwise, investors will be fully exposed to the decline of the worst performing asset
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| Call: | Automatically starting Feb. 23, 2023 at par and on any subsequent quarterly review date if each stock closes at or above its initial level
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| Initial levels: | $36.77 for Shopify, $112.24 for Meta, $402.42 for SPDR
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| Trigger levels: | $18.385 for Shopify, $56.12 Meta, $201.21 for SPDR, 50% of initial level
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| Pricing date: | Nov. 25, 2022
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| Settlement date: | Nov. 30, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.4%
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| Cusip: | 48133P5P4
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