Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $996,000 8.55% contingent interest autocalls on indexes, sector fund
By Kiku Steinfeld
Chicago, May 15 – JPMorgan Chase Financial Co. LLC priced $996,000 of autocallable contingent interest notes due Jan. 15, 2026 linked to the Consumer Staples Select Sector SPDR Fund, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.55%, 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 starting July 11, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly 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: | Consumer Staples Select Sector SPDR Fund, Nasdaq-100 index and Russell 2000 index
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| Amount: | $996,000
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| Maturity: | Jan. 15, 2026
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| Coupon: | 8.55%, 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 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 July 11, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $74.98 for Consumer, 11,402.52 for Nasdaq, 1,844.051 for Russell
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| Trigger levels: | $44.988 for Consumer, 6,841.512 for Nasdaq, 1,106.4306 for Russell, 60% of initial level
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| Coupon barriers: | $52.486 for Consumer, 7,981.764 for Nasdaq, 1,290.8357 for Russell, 70% of initial levels
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| Pricing date: | Jan. 11, 2023
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| Settlement date: | Jan. 17, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48133TSP1
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