Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 10.7% autocallable contingent interest notes on index, ETFs
Chicago, Sept. 27 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due Sept. 27, 2027 linked to the least performing of the Russell 2000 index, SPDR S&P 500 ETF Trust and iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.7%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting March 22, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 65% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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, SPDR S&P 500 ETF Trust and iShares MSCI EAFE ETF
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| Amount: | $500,000
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| Maturity: | Sept. 27, 2027
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| Coupon: | 10.7% annual rate, paid quarterly, if each underlier closes at or above its 70% coupon 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 asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting March 22, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | 1,722.310 for Russell, $374.22 for S&P ETF, $58.63 for iShares EAFE ETF
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| Trigger levels: | 1,119.5015 for Russell, $243.243 for S&P ETF, $38.1095 for EAFE ETF, 65% of initial levels
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| Coupon barriers: | 1,205.617 for Russell, $261.954 for S&P ETF, $41.041 for EAFE ETF, 70% of initial levels
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| Pricing date: | Sept. 22, 2022
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| Settlement date: | Sept. 27, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.2%
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| Cusip: | 48133NHU5
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