Published on 2/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $69,000 autocallable accelerated barrier notes on sector funds
Chicago, Feb. 10 – JPMorgan Chase Financial Co. LLC priced $69,000 of 0% autocallable accelerated barrier notes due May 2, 2025 linked to the lesser performing of the Energy Select Sector SPDR fund and Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically on May 2, 2023 at a premium of 22% if the worst performing ETF closes above 100% of its initial value.
If the worst performing ETF gains the payout will be par plus 150% of the worst performing ETF return. Investors will receive par if the worst performing ETF declines but ends at or above its 70% barrier and they will lose 1% for every 1% that the worst performing ETF declines if it finishes below the barrier level.
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 accelerated barrier notes
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Underlying ETFs: | Energy Select Sector SPDR Fund and Financial Select Sector SPDR Fund
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Amount: | $69,000
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Maturity: | May 2, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF finishes at or above its initial value, par plus 150% of worst performing ETF return; if worst performing ETF declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside threshold level
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Call: | Automatically on May 2, 2023 at a premium of 22% if the worst performing ETF closes above 100% of its initial value
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Initial level: | $75.15 for energy, $34.51 for financial
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Downside threshold: | $52.605 for energy, $24.157 for financial, 70% of initial levels
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Upside leverage: | 150%
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Pricing date: | April 29, 2022
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Settlement date: | May 4, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133FEX9
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