Published on 4/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $596,000 11.57% callable contingent interest notes on indexes, ETF
Chicago, April 17 – JPMorgan Chase Financial Co. LLC priced $596,000 of callable contingent interest notes due May 23, 2025 linked to the least performing of 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 11.57%, paid quarterly, if each underlier closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called at par starting Aug. 25, 2022 and on any subsequent quarterly review date.
If the worst performing asset gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
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: | Callable 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: | $596,000
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| Maturity: | May 23, 2025
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| Coupon: | 11.57% annual rate, paid quarterly, if each underlier closes at or above its 65% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
|
| Call: | At par starting Aug. 25, 2022 and on any subsequent quarterly review date
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| Initial levels: | 11,835.62 for Nasdaq, 1,773.266 for Russell, $41.14 for ETF
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| Downside thresholds: | 7,101.372 for Nasdaq, 1,063.9596 for Russell, $24.684 for ETF, 60% of initial levels
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| Coupon barriers: | 7,693.153 for Nasdaq, 1,152.6229 for Russell, $26.741 for ETF, 65% of initial levels
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| Pricing date: | May 20, 2022
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| Settlement date: | May 25, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133GJT1
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