Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.16 million 11.7% contingent interest notes on three indexes
By Kiku Steinfeld
Chicago, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $1.16 million of contingent interest notes due May 23, 2024 linked to 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 11.7%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date.
If the worst performing index gains or ends above its 70% trigger value, the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its trigger value.
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: | 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: | $1.16 million
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Maturity: | May 23, 2024
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Coupon: | 11.7%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 70% trigger value, par; 1% loss for every 1% that worst performing index declines if it finishes below its trigger value
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Initial levels: | 11,677.02 for Nasdaq, 1,849.732 for Russell, 3,965.34 for S&P
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Trigger values: | 8,173.914 for Nasdaq, 1,294.8124 for Russell, 2,775.738 for S&P, 70% of initial level
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Pricing date: | Nov. 18, 2022
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Settlement date: | Nov. 23, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.37489%
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Cusip: | 48133PSR5
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