Published on 11/17/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.27 million contingent income autocallable securities on three indexes
By William Gullotti
Buffalo, N.Y., Nov. 17 – JPMorgan Chase Financial Co. LLC priced $2.27 million of contingent income autocallable securities due Nov. 14, 2024 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at a rate of 10.2% per year if each index closes at or above its threshold level, 65% of its initial level, on the review date for that period.
The notes will be called automatically at par plus the coupon if each index closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless any index finishes below its 65% threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index.
J.P. Morgan Securities LLC is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $2.27 million
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| Maturity: | Nov. 14, 2024
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| Coupon: | 10.2% annual rate, payable quarterly if each index closes at or above its threshold level on the review date for that period
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| Price: | Par
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| Payout at maturity: | Par plus final coupon unless any index finishes below its threshold level, in which case investors will be fully exposed to the decline of the lesser-performing index
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| Call: | Automatically at par plus the coupon if each index closes at or above its initial level on any quarterly observation date
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| Initial levels: | 11,817.01 for Nasdaq, 1,882.74 for Russell, 3,992.93 for S&P
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| Threshold levels: | 7,681.0565 for Nasdaq, 1,223.781 for Russell, 2,595.4045 for S&P; 65% of initial levels
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| Pricing date: | Nov. 11
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| Settlement date: | Nov. 16
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 48133PPN7
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