Published on 3/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $419,000 8% contingent interest autocalls on indexes, ETF
By Kiku Steinfeld
Chicago, March 28 – JPMorgan Chase Financial Co. LLC priced $419,000 of autocallable contingent interest notes due June 10, 2024 linked to the Dow Jones industrial average, Russell 2000 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlier closes at or above its 57% trigger level on the related quarterly observation date.
The securities will be called automatically starting June 5, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 57% 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: | Dow Jones industrial average, Russell 2000 index and SPDR S&P 500 ETF Trust
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Amount: | $419,000
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Maturity: | June 10, 2024
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Coupon: | 8%, paid quarterly, if each underlier closes at or above its 57% trigger level on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset closes 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 starting June 5, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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Initial levels: | 33,947.10 for Dow, 1,840.222 for Russell, $399.59 for SPDR S&P
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Trigger levels: | 19,349.847 for Dow, 1,048.92654 for Russell, $227.7663 for SPDR S&P, 57% of initial level
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Pricing date: | Dec. 5
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Settlement date: | Dec. 8
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48133PX24
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