Published on 7/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 8% autocallable contingent interest on indexes, ETF
By Kiku Steinfeld
Chicago, July 3 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Nov. 12, 2024 linked to the Nasdaq-100 index, 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%, paid monthly, if each underlier closes at or above its 70% coupon barrier level on the related monthly observation date.
The securities will be called automatically starting at par on any monthly review date after three months if each asset closes at or above its initial level.
At maturity the payout will be par unless the worst performing asset closes below its 55% 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: | Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF
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Amount: | $250,000
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Maturity: | Nov. 12, 2024
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Coupon: | 8%, paid monthly, if each underlier closes at or above its 70% coupon barrier level 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 on any monthly review date after three months if each asset closes at or above its initial level
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Initial levels: | 12,464.51 for Nasdaq, 1,957.716 for Russell, $154.18 for iShares
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Trigger levels: | 6,855.4805 for Nasdaq, 1,076.7438 for Russell, $84.799 for iShares, 55% of initial level
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Coupon barrier levels: | 8,725.157 for Nasdaq, 1,370.4012 for Russell, $107.926 for iShares, 70% of initial levels
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Pricing date: | Feb. 6, 2023
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Settlement date: | Feb. 9, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.725%
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Cusip: | 48133UAW2
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