Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $795,000 9.6% autocallable contingent interest notes on Silver, Gold ETFs
By Kiku Steinfeld
Chicago, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $795,000 of autocallable contingent interest notes due Dec. 26, 2024 linked to the VanEck Gold Miners ETF and iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.6%, paid monthly, if each underlying fund closes at or above its 65% trigger level on the related monthly observation date.
The securities will be called automatically starting Sept. 20, 2023 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 65% trigger level in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | VanEck Gold Miners ETF and iShares Silver Trust
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| Amount: | $795,000
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| Maturity: | Dec. 26, 2024
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| Coupon: | 9.6%, paid monthly, if each underlying fund closes at or above its 65% 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 ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically starting Sept. 20, 2023 at par if the price of each underlying fund is greater than or equal to its initial price on any monthly review date
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| Initial levels: | $30.14 for VanEck Gold Miners ETF, $21.26 for iShares Silver Trust
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| Trigger levels: | $19.591 for VanEck Gold Miners ETF, $13.819 for iShares Silver Trust, 65% of initial level
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| Pricing date: | June 20, 2023
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| Settlement date: | June 23, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133XQY5
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