Published on 11/9/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.34 million autocallable contingent interest notes on three ETFs
New York, Nov. 9 – JPMorgan Chase Financial Co. LLC priced $1.34 million of autocallable contingent interest notes due Aug. 7, 2025 linked to the Energy Select Sector SPDR Fund, SPDR Gold Trust and iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.1%, paid monthly, if each underlying fund closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par if each ETF closes at or above its initial level on any monthly review date starting Nov. 6, 2023.
At maturity, the payout will be par unless the worst performing ETF finishes below its 60% trigger level, in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Energy Select Sector SPDR Fund, SPDR Gold Trust and iShares Silver Trust
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| Amount: | $1,338,000
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| Maturity: | Aug. 7, 2025
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| Coupon: | 13.1%, paid monthly, if each underlying fund closes at or above its 60% 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 ETF finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par if each ETF closes at or above its initial level on any monthly review date starting Nov. 6, 2023
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| Initial levels: | $91.42 for Energy Select Sector SPDR Fund, $156.47 for SPDR Gold Trust, $19.26 for iShares Silver Trust
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| Trigger levels: | $54.852 for Energy Select Sector SPDR Fund, $93.882 for SPDR Gold Trust, $11.556 for iShares Silver Trust, 60% of initial level
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| Pricing date: | Nov. 4
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| Settlement date: | Nov. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133PPE7
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