Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $349,000 8.45% autocallable contingent interest notes on indexes, ETF
Chicago, May 17 – JPMorgan Chase Financial Co. LLC priced $349,000 of autocallable contingent interest notes due June 26, 2025 linked to the least performing of the Nasdaq-100 index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.45%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par starting Dec. 22, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset declines by more than its 30% buffer in which case investors will be exposed to the decline of the worst performing asset beyond the buffer.
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: | Nasdaq-100 index, S&P 500 index and iShares Russell 2000 Value ETF
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Amount: | $349,000
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Maturity: | June 26, 2025
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Coupon: | 8.45% annual rate, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset declines by more than its buffer in which case investors will be exposed to the decline in the worst performing asset beyond the buffer
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Call: | Automatically at par starting Dec. 22, 2022 if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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Initial levels: | 11,527.71 for Nasdaq, 3,759.89 for S&P, $136.20 for ETF
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Coupon barrier levels: | 8,645.7825 for Nasdaq, 2,819.9175 for S&P, $102.15 for ETF; 75% of initial levels
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Buffer levels: | 8,069.397 for Nasdaq, 2,631.923 for S&P, $95.34 for ETF; 70% of initial levels
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Buffer: | 30%
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Pricing date: | June 22, 2022
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Settlement date: | June 27, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.7%
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Cusip: | 48133G6N8
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