Published on 10/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 review notes linked to S&P 500 index, ARK, banking ETFs
Chicago, Oct. 24 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% review notes due Feb. 13, 2025 linked to the least performing of the ARK Innovation ETF, S&P 500 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting Feb. 13, 2023 and on any subsequent annual review date at a premium of 20.75% per year if the worst performing asset closes above its initial value on the successive determination dates;
If the notes have not been called and the worst performing asset ends above its 60% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below the downside threshold level.
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: | Review notes
|
| Underlying assets: | ARK Innovation ETF, S&P 500 index and SPDR S&P Regional Banking ETF
|
| Amount: | $500,000
|
| Maturity: | Feb. 13, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If not called and worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
|
| Call: | Automatically starting Feb. 13, 2023 and on any subsequent annual review date at a premium of 20.75% per year if the worst performing asset closes above its initial value on the successive determination dates
|
| Initial levels: | $73.76 for ARK ETF, 4,504.08 for S&P 500, $74.81 for Banking ETF
|
| Downside thresholds: | $44.256 for ARK ETF, 2,702.448 for S&P 500, $44.886 for Banking ETF, 60% of initial levels
|
| Pricing date: | Feb. 10
|
| Settlement date: | Feb. 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.95%
|
| Cusip: | 48133CV33
|
|
|
© 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.
