Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $329,000 contingent interest autocallables linked to Russell ETF, index
By Angela McDaniels
Tacoma, Wash., May 4 – JPMorgan Chase Financial Co. LLC priced $329,000 of autocallable contingent interest notes due June 5, 2025 linked to the lesser performing of the iShares Russell 2000 Value ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes will pay a contingent coupon at the rate of 9.75% per year if each asset closes at or above its interest barrier, 70% of its initial level, on the review date for that month.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any monthly review date other than the first, second and final review dates.
If the notes have not been called, the payout at maturity will be par unless either asset finishes below its trigger value, 60% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing asset finishes below its initial level.
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: | iShares Russell 2000 Value ETF and Russell 2000 index
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Amount: | $329,000
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Maturity: | June 5, 2025
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Coupon: | 9.75% per year, payable monthly if each asset closes at or above interest barrier on review date for that month
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Price: | Par
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Payout at maturity: | Par unless either asset finishes below trigger value, in which case 1% loss for every 1% that lesser-performing asset finishes below initial level
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Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any monthly review date other than first, second and final ones
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Initial levels: | $151.69 for ETF and 1,864.043 for index
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Interest barriers: | $106.183 for ETF and 1,304.8301 for index, or 70% of initial levels
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Trigger values: | $91.014 for ETF and 1,118.4258 for index, or 60% of initial levels
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Pricing date: | May 31, 2022
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Settlement date: | June 3, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.95%
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Cusip: | 48133GMM2
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