Published on 6/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $277,000 contingent interest autocallables linked to indexes, Russell ETF
By Angela McDaniels
Tacoma, Wash., June 20 – JPMorgan Chase Financial Co. LLC priced $277,000 of autocallable contingent interest notes due Jan. 30, 2025 linked to the least performing of the iShares Russell 2000 Value ETF, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 14% per year if each asset closes at or above its interest barrier, 75% of its initial level, on the review date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each asset closes at or above its initial level on any quarterly review date other than the first and final review dates.
If the notes have not been called, the payout at maturity will be par unless any asset finishes below its trigger value, 70% of its initial level, in which case investors will lose 1% for every 1% that the least-performing asset finishes below its initial level.
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 asset: | iShares Russell 2000 Value ETF, Nasdaq-100 index and Russell 2000
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| Amount: | $277,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 14% per year, payable quarterly if each asset closes at or above interest barrier on review date for that quarter
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| Price: | Par
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| Payout at maturity: | Par unless any index finishes below trigger value, in which case 1% loss for every 1% that least-performing asset finishes below initial level
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| Call: | Automatically at par plus contingent coupon if each asset closes at or above initial level on any quarterly review date other than first and final ones
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| Initial levels: | $143.55 for iShares Russell, 12,086.90 for Nasdaq and 1,805.246 for Russell
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| Interest barriers: | $107.6625 for iShares Russell, 9,065.175 for Nasdaq and 1,353.9345 for Russell, or 75% of initial levels
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| Trigger values: | $100.485 for iShares Russell, 8,460.83 for Nasdaq and 1,263.6722 for Russell 2000, or 70% of initial levels
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| Pricing date: | July 26, 2022
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| Settlement date: | July 29, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133L4J8
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