Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $645,000 12.4% autocallable contingent interest notes on Russell, S&P
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $645,000 of autocallable contingent interest notes due Aug. 29, 2025 linked to the lesser performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.4%, paid monthly, if each underlying index closes at or above its 85% downside threshold on the related monthly observation date.
The securities will be called automatically starting Nov. 28, 2022 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing index declines by more than its 15% buffer in which case investors will be exposed to the decline of the worst performing index 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 indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $645,000
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| Maturity: | Aug. 29, 2025
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| Coupon: | 12.4% annual rate, paid monthly, if each underlying index closes at or above its 85% downside threshold on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing index declines by more than its buffer in which case investors will be exposed to the decline in the worst performing index beyond the buffer
|
| Call: | Automatically starting Nov. 28, 2022 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent monthly review date
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| Initial levels: | 1,899.830 for Russell, 4,057.66 for S&P
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| Downside threshold levels: | 1,614.8555 for Russell, 3,449.011 for S&P; 85% of initial levels
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| Buffer: | 15%
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48133MRU6
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