Published on 5/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.07 million 9.05% contingent interest autocalls on Nasdaq, Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, May 23 – JPMorgan Chase Financial Co. LLC priced $7.07 million of autocallable contingent interest notes due Nov. 14, 2024 linked to the Nasdaq-100 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.05%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the level of each underlying index is greater than or equal to its initial level on any review date other than the first, second and final ones.
At maturity the payout will be par unless the worst performing index closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing index.
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: | Nasdaq-100 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $7,071,000
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Maturity: | Nov. 14, 2024
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Coupon: | 9.05%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically at par if the level of each underlying index is greater than or equal to its initial level on any review date other than the first, second and final ones
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Initial levels: | 13,201.11 for Nasdaq, 1,749.677 for Russell, 4,323.09 for Euro Stoxx
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Trigger levels: | 9,240.777 for Nasdaq, 1,224.7739 for Russell, 3,026.163 for Euro Stoxx, 70% of initial levels
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Coupon barriers: | 9,240.777 for Nasdaq, 1,224.7739 for Russell, 3,026.163 for Euro Stoxx, 70% of initial levels
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Pricing date: | May 9
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Settlement date: | May 12
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133WGE2
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