Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 8.85% autocallable contingent interest notes on indexes, ETF
Chicago, June 30 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due July 10, 2025 linked to the least performing of the Dow Jones industrial average, 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 8.85%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting July 6, 2023 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: | Dow Jones industrial average, S&P 500 index and iShares Russell 2000 Value ETF
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Amount: | $250,000
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Maturity: | July 10, 2025
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Coupon: | 8.85% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly 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 at par starting July 6, 2023 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: | 31,037.68 for Dow, 3,845.08 for S&P, $137.26 for Russell ETF
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Trigger levels: | 18,622.608 for Dow, 2,307.048 for S&P, $82.356 for Russell ETF, 60% of initial levels
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Coupon barriers: | 21,726.376 for Dow, 2,691.556 for S&P, $96.082 for Russell ETF, 70% of initial levels
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Pricing date: | July 6, 2022
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Settlement date: | July 11, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133LHX3
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