Published on 9/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $581,000 6.85% autocallable contingent interest notes on Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 20 – JPMorgan Chase Financial Co. LLC priced $581,000 of autocallable contingent interest notes due March 12, 2024 linked to 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 6.85%, paid quarterly, if each underlying index closes at or above its 55% trigger level on the related quarterly observation date.
The securities will be called automatically starting at par if the level of each underlying index is greater than or equal to its initial level on any quarterly review date.
At maturity the payout will be par if all of the indexes never close below the 55% trigger level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| 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: | $581,000
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| Maturity: | March 12, 2024
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| Coupon: | 6.85%, paid quarterly, if each underlying index closes at or above its 55% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if all of the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically at par if the level of each underlying index is greater than or equal to its initial level on any quarterly review date
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| Initial levels: | 1,878.724 for Russell, 3,986.37 for S&P
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| Trigger levels: | 1,033.2982 for Russell, 2,192.5035 for S&P, 55% of initial level
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| Pricing date: | March 7, 2023
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| Settlement date: | March 10, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.69918%
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| Cusip: | 48133UXB3
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