Published on 12/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $833,000 9.95% contingent interest notes autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Dec. 13 – JPMorgan Chase Financial Co. LLC priced $833,000 of autocallable contingent interest notes due Jan. 19, 2024 linked to the Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.95%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting July 14 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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: | Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF
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| Amount: | $833,000
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| Maturity: | Jan. 19, 2024
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| Coupon: | 9.95%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly 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
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| Call: | Automatically at par starting July 14 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | 2,004.980 for Russell, 4,392.59 for S&P, $157.94 for iShares
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| Trigger levels: | 1,202.988 for Russell, 2,635.554 for S&P, $94.764 for iShares, 60% of initial level
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| Coupon barriers: | 1,403.486 for Russell, 3,074.813 for S&P, $110.558 for iShares, 70% of initial levels
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| Pricing date: | April 14
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| Settlement date: | April 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.43013%
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| Cusip: | 48133FKC8
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