Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $550,000 15.15% autocallable contingent interest notes on indexes, ETF
Chicago, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $550,000 of autocallable contingent interest notes due July 25, 2024 linked to the least performing of 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 15.15%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Jan. 23, 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.
At maturity the payout will be par unless the worst performing asset declines by more than its 15% 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: | $550,000
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Maturity: | July 25, 2024
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Coupon: | 15.15% annual rate, paid monthly, if each underlier closes at or above its 80% 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 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 Jan. 23, 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: | 12,619.41 for Nasdaq, 1,836.693 for Russell, $144.93 for ETF
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Interest barrier levels: | 10,095.528 for Nasdaq, 1,469.3544 for Russell, $115.944 for ETF; 80% of initial levels
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Buffer levels: | 10,726.4985 for Nasdaq, 1,561.18905 for Russell, $123.1905 for ETF; 85% of initial levels
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Buffer: | 15%
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Pricing date: | July 21, 2022
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Settlement date: | July 26, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.7%
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Cusip: | 48133LSK9
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