Published on 2/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.63 million uncapped barrier notes linked to Dow, S&P ETFs
Chicago, Feb. 1 – JPMorgan Chase Financial Co. LLC priced $1.63 million of 0% uncapped barrier notes due Nov. 1, 2024 linked to the lesser performing of the SPDR Dow Jones industrial average ETF trust and SPDR S&P 500 ETF trust, 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 the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but finishes above its 58% barrier. Investors will lose 1% for every 1% that the worst performing ETF declines if it closes below its barrier.
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 barrier notes
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Underlying ETFs: | SPDR Dow Jones industrial average ETF trust and SPDR S&P 500 ETF trust
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Amount: | $1.63 million
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Maturity: | Nov. 1, 2024
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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 worst performing ETF return; par if worst performing ETF declines but finishes above its downside barrier; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside barrier
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Initial levels: | $329.69 for Dow, $412.00 for S&P
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Barrier levels: | $191.2202 for Dow, $238.96 for S&P, 58% of initial levels
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Cap: | None
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Pricing date: | April 29, 2022
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Settlement date: | May 4, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.48067%
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Cusip: | 48133FWL5
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