Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $648,000 9.25% autocallable contingent interest notes on indexes
Chicago, Sept. 13 – JPMorgan Chase Financial Co. LLC priced $648,000 of autocallable contingent interest notes due Feb. 29, 2024 linked to the least performing of the Nasdaq-100 index, 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 9.25%, paid quarterly, if each underlying index closes at or above its 80% interest barrier on the related quarterly 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 quarterly review date.
At maturity the payout will be par unless the worst performing index declines by more than its 20% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $648,000
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Maturity: | Feb. 29, 2024
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Coupon: | 9.25% annual rate, paid quarterly, if each underlying index closes at or above its 80% interest barrier on the related quarterly observation date
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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
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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 quarterly review date
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Initial levels: | 12,605.17 for Nasdaq, 1,899.830 for Russell, 4,057.66 for S&P
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Interest barrier levels: | 10,084.136 for Nasdaq, 1,519.864 for Russell, 3,246.128 for S&P; 80% of initial levels
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Buffer levels: | 10,084.136 for Nasdaq, 1,519.864 for Russell, 3,246.128 for S&P; 80% of initial levels
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Buffer: | 20%
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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: | 0.43854%
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Cusip: | 48133MRK8
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