By William Gullotti
Buffalo, N.Y., Oct. 20 – JPMorgan Chase Financial Co. LLC priced $1.52 million of 0% autocallable return enhanced notes due Oct. 18, 2024 linked to an equally-weighted ETF basket, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The basket consists of the Consumer Staples Select Sector SPDR Fund, the Health Care Select Sector SPDR Fund and the iShares Expanded Tech-Software Sector ETF.
The notes will be automatically called at par plus a 15% call premium if the closing level of the basket is greater than or equal to its initial level on Oct. 23, 2023.
If the final level of the basket is greater than the initial level, the payout at maturity will be par plus 300% of the basket’s return.
Investors will be fully exposed to any basket decline.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable return enhanced notes
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| Underlying ETFs: | Consumer Staples Select Sector SPDR Fund, Health Care Select Sector SPDR Fund, iShares Expanded Tech-Software Sector ETF; equal weights
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| Amount: | $1,521,000
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| Maturity: | Oct. 18, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the basket finishes at or above initial level, par plus 300% of the basket’s return; otherwise, full exposure to decline
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| Call: | Automatically at par plus 15% if closing level of the basket is greater than or equal to initial level on Oct. 23, 2023
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| Initial levels: | $67.53 for Consumer, $123.90 for Health, $242.05 for iShares
|
| Pricing date: | Oct. 14
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| Settlement date: | Oct. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
|
| Cusip: | 48133NZT8
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