Published on 11/6/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 9% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due March 11, 2027 linked to the Energy Select Sector SPDR Fund, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlier closes at or above its 60% trigger level on the related quarterly observation date.
The securities will be called automatically starting March 8, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly 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: | Energy Select Sector SPDR Fund, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1 million
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| Maturity: | March 11, 2027
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| Coupon: | 9%, paid quarterly, if each underlier 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 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 starting March 8, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $77.54 for Energy, 13,267.61 for Nasdaq, 1,963.011 for Russell
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| Trigger levels: | $46.524 for Energy, 7,960.566 for Nasdaq, 1,177.8066 for Russell, 60% of initial level
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| Pricing date: | March 8
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| Settlement date: | March 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.35%
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| Cusip: | 48133DUJ7
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