Published on 10/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.45 million autocallable contingent interest notes on indexes, ETF
New York, Oct. 26 – JPMorgan Chase Financial Co. LLC priced $1.45 million of autocallable contingent interest notes due Oct. 25, 2027 linked to the Russell 2000 index, the S&P 500 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.7%, 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 if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting Jan. 22, 2024.
At maturity, the payout will be par unless the worst performing asset finishes 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 Utilities Select Sector SPDR Fund
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| Amount: | $1.45 million
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| Maturity: | Oct. 25, 2027
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| Coupon: | 11.7%, 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 finishes 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 if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting Jan. 22, 2024
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| Initial levels: | 1,680.792 for Russell 2000, 4,224.16 for S&P 500, $58.03 for Utilities Select Sector SPDR Fund
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| Trigger levels: | 1,008.4752 for Russell 2000, 2,534.496 for S&P 500, $34.818 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Coupon barriers: | 1,176.5544 for Russell 2000, 2,956.912 for S&P 500, $40.621 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48134BYS6
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