Published on 12/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.21 million uncapped accelerated barrier notes on ETFs
Chicago, Dec. 11 – JPMorgan Chase Financial Co. LLC priced $1.21 million of 0% uncapped accelerated barrier notes due Nov. 4, 2027 linked to the least performing of the Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains the payout at maturity will be par plus 160% of the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but finishes above its 60% barrier. Investors will lose 1% for every 1% that the worst performing ETF declines if it closes below its barrier.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Uncapped accelerated barrier notes
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| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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| Amount: | $1,208,000
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| Maturity: | Nov. 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing ETF gains par plus 160% of worst performing ETF return; par if worst performing ETF declines but finishes above its downside barrier; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside barrier
|
| Initial levels: | $277.95 for QQQ, $386.21 for S&P ETF, $183.33 for Russell ETF
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| Barrier levels: | $166.77 for QQQ, $231.726 for S&P ETF, $109.998 for Russell ETF, 60% of initial levels
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| Upside leverage: | 160%
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| Cap: | None
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
|
| Cusip: | 48133NM62
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