Published on 9/27/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $307,000 6.35% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Sept. 27 – JPMorgan Chase Financial Co. LLC priced $307,000 of autocallable contingent interest notes due Aug. 3, 2023 linked to the Nasdaq-100 index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.35%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting May 2 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Nasdaq-100 index, S&P 500 index and iShares Russell 2000 Value ETF
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Amount: | $307,000
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Maturity: | Aug. 3, 2023
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Coupon: | 6.35%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically starting May 2 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | 14,930.05 for Nasdaq, 4,515.55 for S&P, $156.34 for iShares
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Trigger levels: | 8,958.03 for Nasdaq, 2,709.33 for S&P, $93.804 for iShares, 60% of initial levels
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Coupon barriers: | 10,451.035 for Nasdaq, 3,160.885 for S&P, $109.438 for iShares, 70% of initial levels
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Pricing date: | Jan. 31
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Settlement date: | Feb. 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133CZM7
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