Published on 11/17/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $750,000 contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Nov. 17 – JPMorgan Chase Financial Co. LLC priced $750,000 of autocallable contingent interest notes due March 20, 2024 linked to the Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.6%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting June 15 at par and on any subsequent quarterly review date if each asset closes at or above its initial level.
At maturity the payout will be par unless the worst performing asset closes below its 50% 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: | Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF
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| Amount: | $750,000
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| Maturity: | March 20, 2024
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| Coupon: | 9.6%, paid quarterly, if each underlier closes at or above its 70% coupon barrier 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 closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
|
| Call: | Automatically starting June 15 at par and on any subsequent quarterly review date if each asset closes at or above its initial level
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| Initial levels: | 13,458.56 for Nasdaq, 1,968.969 for Russell, $156.72 for iShares
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| Trigger levels: | 6,729.28 for Nasdaq, 984.4845 for Russell, $78.36 for iShares, 50% of initial level
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| Coupon barriers: | 9,420.992 for Nasdaq, 1,378.2783 for Russell, $109.704 for iShares, 70% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133DXW5
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