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Published on 12/15/2023 in the Prospect News Structured Products Daily.

New Issue: JPMorgan prices $875,000 11.1% autocallable contingent interest notes on silver, gold ETFs

By Kiku Steinfeld

Chicago, Dec. 15 – JPMorgan Chase Financial Co. LLC priced $875,000 of autocallable contingent interest notes due July 25, 2024 linked to the 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 11.1%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.

The securities will be called automatically starting July 21, 2023 at par if the price of each underlying fund is greater than or equal to its initial price on a monthly review date.

At maturity the payout will be par unless the worst performing ETF closes below its 65% 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
Guarantor:JPMorgan Chase & Co.
Issue:Autocallable contingent interest notes
Underlying ETFs:VanEck Gold Miners ETF and iShares Silver Trust
Amount:$875,000
Maturity:July 25, 2024
Coupon:11.1%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
Price:Par
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
Call:Automatically starting July 21, 2023 at par if the price of each underlying fund is greater than or equal to its initial price on a monthly review date
Initial levels:$33.61 for VanEck Gold Miners ETF, $22.98 for iShares Silver Trust
Trigger levels:$21.8465 for VanEck Gold Miners ETF, $14.937 for iShares Silver Trust, 65% of initial level
Coupon barriers:$23.527 for VanEck Gold Miners ETF, $16.086 for iShares Silver Trust, 70% of initial levels
Pricing date:April 21, 2023
Settlement date:April 26, 2023
Agent:J.P. Morgan Securities LLC
Fees:2.225%
Cusip:48133VE30

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