Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $721,000 8.35% autocallable contingent interest notes on gold, silver ETFs
By Kiku Steinfeld
Chicago, Feb. 29 – JPMorgan Chase Financial Co. LLC priced $721,000 of autocallable contingent interest notes due July 2, 2026 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 8.35%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting June 27, 2024 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the worst performing ETF declines by more than its 25% buffer in which case investors will be exposed to the decline of the worst performing ETF beyond the buffer.
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: | $721,000
|
| Maturity: | July 2, 2026
|
| Coupon: | 8.35%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing ETF declines by more than its buffer in which case investors will be exposed to the decline in the worst performing ETF beyond the buffer
|
| Call: | Automatically starting June 27, 2024 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date
|
| Initial levels: | $29.65 for VanEck Gold Miners ETF, $20.98 for iShares Silver Trust
|
| Coupon barrier levels: | $16.784 for VanEck Gold Miners ETF, $23.72 for iShares Silver Trust; 80% of initial levels
|
| Buffer levels: | $15.735 for VanEck Gold Miners ETF, $22.2375 for iShares Silver Trust; 75% of initial levels
|
| Pricing date: | June 27, 2023
|
| Settlement date: | June 30, 2023
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.7%
|
| Cusip: | 48133XYM2
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
