Published on 3/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.38 million trigger autocallable contingent yield notes on two indexes
By William Gullotti
Buffalo, N.Y., March 13 – JPMorgan Chase Financial Co. LLC priced $3.38 million of trigger autocallable contingent yield notes due March 12, 2026 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each quarter, the notes will pay a contingent coupon at the rate of 10.05% per year if each index closes at or above the coupon barrier, 70% of the initial level, on the observation date for that quarter.
The notes will be automatically called at par plus coupon if each index closes at or above the initial level on any quarterly observation date after six months.
If the notes are not called and the final level of each index is greater than the 70% threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $3,382,500
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| Maturity: | March 12, 2026
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| Contingent coupon: | 10.05% annual rate, payable quarterly if each index closes at or above coupon barrier level on related quarterly observation date
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus final coupon if each index finishes at or above threshold level; otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level
|
| Call: | Automatically at par plus coupon if index closes at or above initial level on any quarterly observation date after six months
|
| Initial price: | 1,879.478 for Russell, 3,992.01 for S&P
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| Coupon barrier: | 1,315.635 for Russell, 2,794.41 for S&P; 70% of initial price
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| Threshold level | 1,315.635 for Russell, 2,794.41 for S&P; 70% of initial price
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| Pricing date: | March 8
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| Settlement date: | March 13
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | None
|
| Cusip: | 48133K328
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