Published on 4/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.12 million autocallable contingent interest notes on indexes, ETF
New York, April 14 – JPMorgan Chase Financial Co. LLC priced $4.12 million of autocallable contingent interest notes due April 15, 2026 linked to the Nasdaq-100 index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.4%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly review date starting Oct. 10, 2023.
At maturity, the payout will be par unless the worst performing asset finishes 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 Utilities Select Sector SPDR Fund
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| Amount: | $4,118,000
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| Maturity: | April 15, 2026
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| Coupon: | 8.4%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset finishes 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 if the closing level of each underlier is greater than or equal to its initial level on any quarterly review date starting Oct. 10, 2023
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| Initial levels: | 13,051.23 for Nasdaq-100, 1,772.443 for Russell 2000, $69.67 for Utilities Select Sector SPDR Fund
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| Trigger levels: | 7,830.738 for Nasdaq-100, 1,063.4658 for Russell 2000, $41.802 for Utilities Select Sector SPDR Fund, 60% of initial level
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| Coupon barriers: | 9,135.861 for Nasdaq-100, 1,240.7101 for Russell 2000, $48.769 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | April 10
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| Settlement date: | April 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48133VXF2
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