Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $250,000 20.25% autocallable contingent interest notes on ETFs
Chicago, June 30 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Jan. 5, 2024 linked to the least performing of the SPDR S&P Oil & Gas Exploration & Production ETF, VanEck Gold Miners ETF and iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.25%, paid quarterly, if each underlying fund closes at or above its 60% trigger level on the related quarterly observation date.
The securities will be called automatically at par starting Sept. 30, 2022 if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | SPDR S&P Oil & Gas Exploration & Production ETF, VanEck Gold Miners ETF and iShares Silver Trust
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| Amount: | $250,000
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| Maturity: | Jan. 5, 2024
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| Coupon: | 20.25% annual rate, paid quarterly, if each underlying fund closes at or above its 60% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par starting Sept. 30, 2022 if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $119.48 for oil, $27.38 for gold, $18.64 for silver
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| Trigger levels: | $71.688 for oil, $16.428 for gold, $11.184 for silver, 60% of initial levels
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| Pricing date: | June 30, 2022
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| Settlement date: | July 6, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48133GU84
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