By William Gullotti
Buffalo, N.Y., Aug. 22 – JPMorgan Chase Financial Co. LLC priced $4.83 million 0% enhanced trigger jump securities due Aug. 29, 2023 tied to the 10-year U.S. dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
If the final swap rate level is at least 66% of the initial level, the payout at maturity will be par plus the upside payment of 10%.
If the final swap rate level is less than the 66% trigger level, investors will be fully exposed to the rate’s decline from its initial level.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Enhanced trigger jump securities
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Underlying rate: | 10-year U.S. dollar SOFR ICE swap rate
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Amount: | $4.83 million
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Maturity: | Aug. 29, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final swap rate level is greater than or equal to trigger level, par plus 10%; otherwise, 1% loss per 1% decline
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Initial swap rate: | 2.65%
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Trigger level: | 1.749%; 66% of initial level
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Agent: | J.P. Morgan Securities LLC
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 1.29%
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Cusip: | 48133MBF6
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