Published on 4/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $635,000 7% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, April 21 – JPMorgan Chase Financial Co. LLC priced $635,000 of autocallable contingent interest notes due June 26, 2024 linked to the Dow Jones industrial average, Russell 2000 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid quarterly, if each underlier closes at or above its 52% trigger level on the related quarterly observation date.
The securities will be called automatically starting March 21, 2023 at par and on any subsequent quarterly review date if each asset closes at or above its initial level.
At maturity the payout will be par unless the worst performing asset closes below its 52% 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: | Dow Jones industrial average, Russell 2000 index and SPDR S&P 500 ETF Trust
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| Amount: | $635,000
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| Maturity: | June 26, 2024
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| Coupon: | 7%, paid quarterly, if each underlier closes at or above its 52% trigger level on the related quarterly 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 starting March 21, 2023 at par and on any subsequent quarterly review date if each asset closes at or above its initial level
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| Initial levels: | 33,376.48 for Dow, 1,776.941 for Russell, $386.23 for SPDR S&P
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| Trigger levels: | 17,355.7696 for Dow, 924.00932 for Russell, $200.8396 for SPDR S&P, 52% of initial level
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| Pricing date: | Dec. 21
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| Settlement date: | Dec. 27
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48133TFA8
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