Published on 5/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $305,000 autocallable contingent interest notes on MerQube Large-Cap
Chicago, May 23 – JPMorgan Chase Financial Co. LLC priced $305,000 of autocallable contingent interest notes due July 1, 2027 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if the underlying index closes at or above its 55% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par starting June 28, 2023 if the level of the index is greater than or equal to its initial level and on any subsequent quarterly review date.
At maturity the payout will be par unless the index closes below its 50% trigger level in which case investors will be fully exposed to the decline of the index.
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.
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| Issue: | Autocallable contingent interest notes
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| Underlying index: | MerQube US Large-Cap Vol Advantage index
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| Amount: | $305,000
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| Maturity: | July 1, 2027
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| Coupon: | 10% annual rate, paid quarterly, if the underlying index closes at or above its 55% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the index closes below its trigger level in which case investors will be fully exposed to the decline in the index
|
| Call: | Automatically at par starting June 28, 2023 if the level of the index is greater than or equal to its initial level and on any subsequent quarterly review date
|
| Initial level: | 2,443.04
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| Coupon barrier: | 1,343.672, 55% of initial level
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| Trigger level: | 1,221.52, 50% of initial level
|
| Pricing date: | June 28, 2022
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| Settlement date: | June 30, 2022
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 5%
|
| Cusip: | 48133G6J7
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