Published on 7/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.21 million 9.9% autocallable yield notes on ETFs
New York, July 13 – JPMorgan Chase Financial Co. LLC priced $4.21 million of autocallable yield notes due July 5, 2024 linked to the Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting Oct. 2 if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date.
Investors will receive a coupon of 9.9%, paid monthly.
If the worst performing ETF ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Otherwise investors will lose 1% for every 1% that the worst performing ETF declines.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable yield notes
|
| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
|
| Amount: | $4,207,000
|
| Maturity: | July 5, 2024
|
| Coupon: | 9.9%, paid monthly
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above its downside threshold level par; otherwise 1% loss for every 1% that worst performing ETF declines
|
| Call: | Automatically starting Oct. 2 if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date
|
| Initial levels: | $369.42 for Invesco QQQ Trust, Series 1, $443.28 for SPDR S&P 500, $187.27 for iShares Russell 2000 ETF
|
| Downside thresholds: | $258.594 for Invesco QQQ Trust, Series 1, $310.296 for SPDR S&P 500, $131.089 for iShares Russell 2000 ETF, 70% of initial level
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.2%
|
| Cusip: | 48133XT48
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
