Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $783,000 18% autocallable contingent interest notes on indexes, ETF
Chicago, April 27 – JPMorgan Chase Financial Co. LLC priced $783,000 of autocallable contingent interest notes due Nov. 30, 2023 linked to the least performing of the Russell 2000 index, S&P 500 index and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 18%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par starting Nov. 28, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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: | Russell 2000 index, S&P 500 index and SPDR S&P Biotech ETF
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Amount: | $783,000
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Maturity: | Nov. 30, 2023
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Coupon: | 18% annual rate, paid monthly, if each underlier closes at or above its 70% 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
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Call: | Automatically at par starting Nov. 28, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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Initial levels: | 1,838.238 for Russell, 4,057.84 for S&P, $68.47 for ETF
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Trigger levels: | 1,102.9428 for Russell, 2,434.704 for S&P, $41.082 for ETF, 60% of initial levels
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Coupon barriers: | 1,286.7666 for Russell, 2,840.488 for S&P, $47.929 for ETF, 70% of initial levels
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Pricing date: | May 26, 2022
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Settlement date: | June 1, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.71782%
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Cusip: | 48133GKL6
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