Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4 million autocallable contingent interest notes on index, ETFs
New York, Oct. 30 – JPMorgan Chase Financial Co. LLC priced $4 million of autocallable contingent interest notes due Oct. 28, 2027 linked to the MSCI EAFE index, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid quarterly, if each underlier closes at or above its 65% trigger level on the related quarterly observation date.
The securities will be called automatically at par if each underlier closes at or above its initial level on any quarterly review date starting Oct. 23, 2024.
At maturity, the payout will be par unless the worst performing asset finishes below its 65% 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: | MSCI EAFE index, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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| Amount: | $4 million
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| Maturity: | Oct. 28, 2027
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| Coupon: | 11%, paid quarterly, if each underlier closes at or above its 65% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset finishes 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 if each underlier closes at or above its initial level on any quarterly review date starting Oct. 23, 2024
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| Initial levels: | 1,958.93 for MSCI EAFE, $420.46 for SPDR S&P 500, $165.03 for iShares Russell 2000 ETF
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| Trigger levels: | 1,273.3045 for MSCI EAFE, $273.299 for SPDR S&P 500, $107.2695 for iShares Russell 2000 ETF, 65% of initial levels
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| Strike date: | Oct. 23
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48134B7F4
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