Published on 5/25/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, May 25 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Oct. 23, 2025 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 8.45%, paid monthly, if each underlier closes at or above its 75% downside threshold on the related monthly observation date.
The securities will be called automatically starting July 18, 2023 at par if the level of each underlier is greater than or equal to its initial price on any monthly determination date.
At maturity the payout will be par unless the worst performing asset declines by more than its 25% buffer in which case investors will be exposed to the decline of the worst performing asset beyond the buffer.
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: | $250,000
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Maturity: | Oct. 23, 2025
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Coupon: | 8.45%, paid monthly, if each underlier closes at or above its 75% downside threshold 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 declines by more than its buffer in which case investors will be exposed to the decline in the worst performing asset beyond the buffer
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Call: | Automatically starting July 18, 2023 at par if the level of each underlier is greater than or equal to its initial price on any monthly determination date
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Initial levels: | 11,410.29 for Nasdaq, 1,854.365 for Russell, $145.44 for iShares
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Downside threshold/buffer levels: | 8,557.7175 for Nasdaq, 1,390.77375 for Russell, $109.08 for iShares, 75% of initial levels
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Buffer: | 25%
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Pricing date: | Jan. 18, 2023
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Settlement date: | Jan. 23, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133TWW1
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