Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.07 million 9.15% contingent interest notes on Russell, S&P
By Kiku Steinfeld
Chicago, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $1.07 million of contingent interest notes due Nov. 21, 2025 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 contingent semiannual coupon of 9.15% per year if the worst performing index ends at or above its 70% trigger value on the corresponding semiannual observation date.
If the worst performing index ends at or above its 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: | Russell 2000 index and S&P 500 index
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| Amount: | $1,067,000
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| Maturity: | Nov. 21, 2025
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| Coupon: | 9.15% per year, payable semiannually, if the worst performing index ends at or above its 70% trigger value on the corresponding semiannual observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index ends at or above its 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: | 1,849.732 for Russell, 3,965.34 for S&P
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| Trigger values: | 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: | 2.5%
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| Cusip: | 48133PFF5
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