Published on 8/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $780,000 autocallable dual directional accelerated barrier notes
By Kiku Steinfeld
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $780,000 of 0% autocallable dual directional accelerated barrier notes due Feb. 27, 2026 linked to the iShares MSCI EAFE ETF and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus a 12% call premium if each underlier closes at or above initial level on Feb. 28, 2024.
If each underlier finishes flat or positive, the payout at maturity will be par plus 2.2 times the gain of the worst performer.
If the worst performing underlier falls but not beyond the 80% barrier level, the payout will be par plus the absolute value of that underlier’s return.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from 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 dual directional accelerated barrier notes
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| Underlying assets: | iShares MSCI EAFE ETF, Euro Stoxx 50 index
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| Amount: | $780,000
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| Maturity: | Feb. 27, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each underlier finishes flat or positive, par plus 2.2 times the return of the worst performer; if the worst performer falls but finishes at or above barrier level, par plus the absolute value of return of that underlier; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call: | Automatically at par plus 12% call premium if each underlier closes at or above initial level on Feb. 28, 2024
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| Initial levels: | $69.04 for ETF, 4,178.82 for Stoxx
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| Barrier levels: | $55.232 for ETF, 3,343.056 for Stoxx; 80% of initial levels
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| Pricing date: | Feb. 24, 2023
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| Settlement date: | March 1, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133UCW0
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