Published on 11/20/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $990,000 12.3% autocallable contingent interest notes on index, ETF
By Kiku Steinfeld
Chicago, Nov. 21 – JPMorgan Chase Financial Co. LLC priced $990,000 of autocallable contingent interest notes due Sept. 21, 2023 linked to the S&P 500 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.3% per year, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting June 21 at par if the level of each underlying index is greater than or equal to 90% of its initial level and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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: | S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $990,000
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| Maturity: | Sept. 21, 2023
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| Coupon: | 12.3%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly 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
|
| Call: | Automatically starting June 21 at par if the level of each underlying index is greater than or equal to 90% of its initial level and on any subsequent monthly review date
|
| Initial levels: | 4,463.12 for S&P, $71.89 for ETF
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| Trigger levels: | 3,124.184 for S&P, $50.323 for ETF, 70% of initial level
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| Coupon barriers: | 3,570.496 for S&P, $57.512 for ETF, 80% of initial levels
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| Call threshold: | 90% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133DYD6
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