Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $318,000 uncapped accelerated barrier notes on index, ETF
Chicago, April 27 – JPMorgan Chase Financial Co. LLC priced $318,000 of 0% uncapped accelerated barrier notes due June 1, 2027 linked to the lesser performing of the S&P 500 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing asset gains the payout at maturity will be par plus 138% of the return of the worst performing asset. The payout will be par if the worst performing asset declines but finishes above its 70% barrier. Investors will lose 1% for every 1% that the worst performing asset 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 accelerated barrier notes
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Underlying assets: | S&P 500 index and SPDR S&P 500 ETF Trust
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Amount: | $318,000
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Maturity: | June 1, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing asset gains par plus 138% of worst performing asset return; par if worst performing asset declines but finishes above its downside barrier; 1% loss for every 1% that worst performing asset declines if it finishes below its downside barrier
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Initial levels: | 4,057.84 for S&P, $405.31 for ETF
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Barriers: | 2,840.488 for S&P, $283.717 for ETF, 70% of initial levels
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Upside leverage: | 138%
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Cap: | None
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Pricing date: | May 26, 2022
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Settlement date: | June 1, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133GKU6
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