Published on 3/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $656,000 13.3% contingent interest autocalls on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, March 13 – JPMorgan Chase Financial Co. LLC priced $656,000 of autocallable contingent interest notes due May 31, 2024 linked to the Nasdaq-100 index, 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 13.3%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically starting Feb. 28, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing index closes below its 70% trigger level in which case 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $656,000
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| Maturity: | May 31, 2024
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| Coupon: | 13.3%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting Feb. 28, 2023 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date
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| Initial levels: | 11,587.75 for Nasdaq, 1,830.964 for Russell, 3,963.94 for S&P
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| Trigger levels: | 8,111.425 for Nasdaq, 1,281.6748 for Russell, 2,774.758 for S&P, 70% of initial levels, 70% of initial levels
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| Pricing date: | Nov. 28, 2022
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| Settlement date: | Dec. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48133P2W2
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