Published on 4/19/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.04 million uncapped accelerated barrier notes on three ETFs
New York, April 19 – JPMorgan Chase Financial Co. LLC priced $1.04 million of 0% uncapped accelerated barrier notes due April 5, 2028 linked to the Invesco QQQ Trust, Series 1, the SPDR Dow Jones industrial average ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains, the payout at maturity will be par plus 186% of the return of that ETF.
The payout will be par if the worst performing ETF declines but finishes at or above its 60% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial level.
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: | Uncapped accelerated barrier notes
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Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR Dow Jones industrial average ETF Trust and iShares Russell 2000 ETF
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Amount: | $1,038,000
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Maturity: | April 5, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF gains, par plus 186% of that ETF’s return; par if worst performing ETF declines but finishes at or above its downside barrier; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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Initial levels: | $320.93 for Invesco QQQ Trust, Series 1, $332.62 for SPDR Dow Jones industrial average, $178.40 for iShares Russell 2000 ETF
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Upside leverage: | 186%
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Barriers: | $192.558 for Invesco QQQ Trust, Series 1, $199.572 for SPDR Dow Jones industrial average, $107.04 for iShares Russell 2000 ETF, 60% of initial level
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133VJA9
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