Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $84,000 autocallable accelerated barrier notes on funds
Chicago, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $84,000 of 0% autocallable accelerated barrier notes due Aug. 1, 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 Aug. 1, 2023 at a premium of 31.5% if the worst performing ETF closes above 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 60% 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: | $84,000
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| Maturity: | Aug. 1, 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 Aug. 1, 2023 at a premium of 31.5% if the worst performing ETF closes above its initial value
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| Initial level: | $78.42 for energy, $33.71 for financial
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| Downside threshold: | $47.052 for energy, $20.226 for financial, 60% of initial levels
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| Upside leverage: | 150%
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| Pricing date: | July 29, 2022
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| Settlement date: | Aug. 3, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.92857%
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| Cusip: | 48133LBR2
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