Published on 12/19/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $524,000 7.65% contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, Dec. 19 – JPMorgan Chase Financial Co. LLC priced $524,000 of autocallable contingent interest notes due April 24, 2025 linked to the Nasdaq-100 index, Russell 2000 index and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.65%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Oct. 20, 2022 at par 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: | Nasdaq-100 index, Russell 2000 index and iShares MSCI Emerging Markets ETF
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| Amount: | $524,000
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| Maturity: | April 24, 2025
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| Coupon: | 7.65%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
|
| 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 starting Oct. 20, 2022 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
|
| Initial levels: | 13,998.53 for Nasdaq, 2,038.185 for Russell, $43.60 for iShares
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| Trigger levels: | 8,399.118 for Nasdaq, 1,222.911 for Russell, $26.16 for iShares, 60% of initial level
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| Coupon barriers: | 9,798.971 for Nasdaq, 1,426.7295 for Russell, $30.52 for iShares, 70% of initial levels
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| Pricing date: | April 20
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| Settlement date: | April 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48133FQA6
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