Published on 2/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.32 million 9% autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Feb. 23 – JPMorgan Chase Financial Co. LLC priced $1.32 million of autocallable contingent interest notes due May 22, 2024 linked to the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlying index closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically starting May 17, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing index closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing index.
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 indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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Amount: | $1.32 million
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Maturity: | May 22, 2024
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Coupon: | 9%, paid monthly, if each underlying index closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically starting May 17, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date
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Initial levels: | 33,546.32 for Dow, 11,676.86 for Nasdaq, 3,946.56 for S&P
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Trigger levels: | 20,127.792 for Dow, 7,006.116 for Nasdaq, 2,367.936 for S&P, 60% of initial level
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Pricing date: | Nov. 17, 2022
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Settlement date: | Nov. 22, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.7%
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Cusip: | 48133PTS2
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