Published on 5/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $615,000 11% contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, May 22 – JPMorgan Chase Financial Co. LLC priced $615,000 of autocallable contingent interest notes due July 18, 2024 linked to the Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting April 20230 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly 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: | Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF
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Amount: | $615,000
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Maturity: | July 18, 2024
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Coupon: | 11%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly 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 April 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | 11,541.48 for Nasdaq, 1,887.034 for Russell, $148.37 for iShares
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Trigger levels: | 6,924.888 for Nasdaq, 1,132.2204 for Russell, $89.022 for iShares, 60% of initial levels
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Coupon barriers: | 8,079.036 for Nasdaq, 1,320.9238 for Russell, $103.859 for iShares, 70% of initial levels
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Pricing date: | Jan. 13, 2023
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Settlement date: | Jan. 19, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.52134%
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Cusip: | 48133TVD4
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