Published on 5/22/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $15,000 10.3% callable contingent interest notes on indexes
Chicago, May 22 – JPMorgan Chase Financial Co. LLC priced $15,000 of callable contingent interest notes due July 2, 2024 linked to the least performing of the MSCI EAFE index, MSCI Emerging Markets index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.3%, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly observation date.
The securities may be called at par starting Dec. 30, 2022 and on any subsequent quarterly review date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Callable contingent interest notes
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Underlying indexes: | MSCI EAFE index, MSCI Emerging Markets index and Russell 2000 index
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Amount: | $15,000
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Maturity: | July 2, 2024
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Coupon: | 10.3% annual rate, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | At par starting Dec. 30, 2022 and on any subsequent quarterly review date
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Initial levels: | 1,896.13 for EAFE, 1,027.55 for EM, 1,771.742 for Russell
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Downside thresholds: | 1,327.291 for EAFE, 719.285 for EM, 1,240.2194 for Russell, 70% of initial levels
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Pricing date: | June 27, 2022
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Settlement date: | June 30, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48133GVM2
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