Published on 11/17/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 autocallable return enhanced notes linked to index, ETF
By Kiku Steinfeld
Chicago, Nov. 17 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% autocallable return enhanced notes due March 18, 2027 linked to the least performing of the S&P 500 Value index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus a 9.55% call premium if the closing level of the least performing asset is greater than or equal to the call level, 100% of the initial level, on March 15, 2023.
If the final level of the least performing asset is greater than the initial level, the payout at maturity will be par plus 3 times that asset’s return. Otherwise, investors will be fully exposed to the decline in the least performing asset.
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 return enhanced notes
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| Underlying assets: | S&P 500 Value index and iShares Russell 2000 Value ETF
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| Amount: | $500,000
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| Maturity: | March 18, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of the least performing asset is greater than initial level, par plus 3 times that asset’s return; otherwise, full exposure to decline in least performing asset
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| Call: | Automatically at $1,095.50 per $1,000 principal amount if closing level of the least performing asset is greater than or equal to call level, 100% of initial level, on March 15, 2023
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| Initial levels: | 1,479.592 for index, $156.72 for ETF
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| Pricing date: | March 15
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| Settlement date: | March 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133DKZ2
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