Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $283,000 10.85% autocallable contingent interest notes on index, ETF
Chicago, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $283,000 of autocallable contingent interest notes due Aug. 10, 2027 linked to the lesser performing of the Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.85%, paid monthly, if each underlier closes at or above its 85% interest barrier on the related monthly observation date.
The securities will be called automatically starting Aug. 7, 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: | Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $283,000
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| Maturity: | Aug. 10, 2027
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| Coupon: | 10.85% annual rate, paid monthly, if each underlier closes at or above its 85% interest 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 Aug. 7, 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: | 1,921.824 for Russell, $64.04 for ETF
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| Interest barrier levels: | 1,633.5504 for Russell, $54.434 for ETF; 85% of initial levels
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| Buffer levels: | 1,633.5504 for Russell, $54.434 for ETF; 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | Aug. 5, 2022
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| Settlement date: | Aug. 10, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.8%
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| Cusip: | 48133LWG3
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