Published on 5/16/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $502,000 8.5% autocallable contingent interest notes on index, ETF
Chicago, May 16 – JPMorgan Chase Financial Co. LLC priced $502,000 of autocallable contingent interest notes due June 23, 2025 linked to the lesser performing of the Russell 2000 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, 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 at par starting Sept. 19, 2022 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: | Russell 2000 index and iShares Russell 2000 Value ETF
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Amount: | $502,000
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Maturity: | June 23, 2025
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Coupon: | 8.5% annual rate, 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 at par starting Sept. 19, 2022 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: | 1,665.694 for Russell, $134.84 for ETF
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Coupon barriers: | 1,165.9858 for Russell, $94.388 for ETF, 70% of initial levels
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Trigger levels: | 999.4164 for Russell, $80.904 for ETF, 60% of initial levels
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Pricing date: | June 17, 2022
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Settlement date: | June 23, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.95%
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Cusip: | 48133G2E2
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