Published on 6/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $611,000 10% contingent interest autocalls on ETFs
By Kiku Steinfeld
Chicago, June 21 – JPMorgan Chase Financial Co. LLC priced $611,000 of autocallable contingent interest notes due Feb. 4, 2025 linked to 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.
Investors will receive a coupon of 10%, paid quarterly, if each underlying fund closes at or above its 60% trigger level on the related quarterly observation date.
The securities will be called automatically starting May 1, 2023 at par on any quarterly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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| Amount: | $611,000
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| Maturity: | Feb. 4, 2025
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| Coupon: | 10%, paid quarterly, if each underlying fund closes at or above its 60% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically starting May 1, 2023 at par on any quarterly review date
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| Initial levels: | $290.27 for Invesco, $400.59 for SPDR, $186.94 for iShares
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| Trigger levels: | $174.162 for Invesco, $240.354 for SPDR, $112.164 for iShares, 60% of initial levels
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| Pricing date: | Jan. 31, 2023
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| Settlement date: | Feb. 3, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48133TQ57
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