Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.32 million autocallable contingent interest notes tied to two ETFs
New York, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $2.32 million of autocallable contingent interest notes due Feb. 5, 2025 linked to the Invesco QQQ Trust, Series 1 and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.6%, paid monthly, if each underlying fund closes at or above its 75% trigger level on the related monthly observation date.
The securities will be called automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any monthly review date starting April 30, 2024.
At maturity, the payout will be par unless the worst performing ETF finishes below its 75% 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: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $2,324,000
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| Maturity: | Feb. 5, 2025
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| Coupon: | 8.6%, paid monthly, if each underlying fund closes at or above its 75% trigger level on the related monthly observation date
|
| 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
|
| Call: | Automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any monthly review date starting April 30, 2024
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| Initial levels: | $350.87 for Invesco QQQ Trust, Series 1, $418.20 for SPDR S&P 500
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| Trigger levels: | $263.1525 for Invesco QQQ Trust, Series 1, $313.65 for SPDR S&P 500, 75% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48134B5A7
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