Published on 3/10/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $100,000 12.15% contingent interest autocalls on MerQube US Tech+
By Kiku Steinfeld
Chicago, March 11 – JPMorgan Chase Financial Co. LLC priced $100,000 of autocallable contingent interest notes due July 3, 2028 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.15% if the index closes at or above its 60% coupon barrier on the related valuation date.
The securities will be called automatically starting June 28, 2024 on a quarterly review date if the index closes at or above initial level
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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying index: | MerQube US Tech+ Vol Advantage index
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Amount: | $100,000
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Maturity: | July 3, 2028
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Coupon: | 12.15% if the index closes at or above its 60% coupon barrier on the related valuation date
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Price: | Par
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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
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Call: | Automatically starting June 28, 2024 on a quarterly review date if the index closes at or above initial level
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Initial level: | 8,415.05
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Trigger level: | 4,207.525, 50% of initial level
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Coupon barrier: | 5,049.03, 60% of initial level
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Pricing date: | June 28, 2023
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Settlement date: | June 30, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 5%
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Cusip: | 48133XUY0
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