Published on 7/24/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $295,000 7.9% autocallable contingent interest notes linked to Dow, S&P
By Kiku Steinfeld
Chicago, July 24 – JPMorgan Chase Financial Co. LLC priced $295,000 of autocallable contingent interest notes due Aug. 22, 2024 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.9%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically starting Aug. 17, 2023 at par if the level of each underlying index is greater than or equal to its initial level on a monthly review date.
At maturity the payout will be par unless the worst performing index closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing index.
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 indexes: | Dow Jones industrial average and S&P 500 index
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| Amount: | $295,000
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| Maturity: | Aug. 22, 2024
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| Coupon: | 7.9%, 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: | Par unless the worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting Aug. 17, 2023 at par if the level of each underlying index is greater than or equal to its initial level on a monthly review date
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| Initial levels: | 33,826.69 for Dow, 4,079.09 for S&P
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| Trigger levels: | 23,678.683 for Dow, 2,855.363 for S&P, 70% of initial level
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| Pricing date: | Feb. 17, 2023
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| Settlement date: | Feb. 23, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133UE65
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