Published on 11/12/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $859,000 6% autocallable contingent interest notes on Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 14 – JPMorgan Chase Financial Co. LLC priced $859,000 of autocallable contingent interest notes due March 16, 2023 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6%, paid quarterly, if each underlying index closes at or above its 50% trigger level on the related quarterly observation date.
The securities will be called automatically starting June 13 at par and on any subsequent quarterly review date.
At maturity the payout will be par if all of the indexes never close below the 50% trigger level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing 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 indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $859,000
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| Maturity: | March 16, 2023
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| Coupon: | 6%, paid quarterly, if each underlying index closes at or above its 50% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if all of the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting June 13 at par and on any subsequent quarterly review date
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| Initial levels: | 1,979.668 for Russell, 4,204.31 for S&P
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| Trigger levels: | 989.834 for Russell, 2,102.155 for S&P, 50% of initial level
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6665%
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| Cusip: | 48133DXH8
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