Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $496,000 8.7% autocallable contingent interest notes on indexes
Chicago, May 12 – JPMorgan Chase Financial Co. LLC priced $496,000 of autocallable contingent interest notes due Dec. 21, 2023 linked to the least performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.7%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date.
The securities will be called automatically at par starting Sept. 19, 2022 and on any subsequent quarterly review date if both indexes close above their initial levels.
At maturity the payout will be par unless the worst performing index declines by more than its 20% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
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 indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $496,000
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| Maturity: | Dec. 21, 2023
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| Coupon: | 8.7% annual rate, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index declines by more than its buffer in which case investors will be exposed to the decline in the worst performing index beyond the buffer
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| Call: | Automatically at par starting Sept. 19, 2022 and on any subsequent quarterly review date if both indexes close above their initial levels
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| Initial levels: | 1,665.694 for Russell, 3,674.84 for S&P
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| Downside threshold levels: | 1,332.5552 for Russell, 2,939.872 for S&P; 80% of initial levels
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| Buffer levels: | 1,332.5552 for Russell, 2,939.872 for S&P; 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | June 17, 2022
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| Settlement date: | June 23, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.35%
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| Cusip: | 48133G6M0
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