Published on 8/11/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.27 million 8.2% autocallable contingent interest notes on index, ETFs
By Kiku Steinfeld
Chicago, Aug. 11 – JPMorgan Chase Financial Co. LLC priced $1.27 million of autocallable contingent interest notes due Feb. 27, 2026 linked to the Nasdaq-100 index, Utilities Select Sector SPDR Fund and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.2%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Aug. 24, 2023 at par if the level of each underlier is greater than or equal to its initial price on quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying assets: | Nasdaq-100 index, Utilities Select Sector SPDR Fund and iShares MSCI Emerging Markets ETF
|
| Amount: | $1,266,000
|
| Maturity: | Feb. 27, 2026
|
| Coupon: | 8.2%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| 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
|
| Call: | Automatically starting Aug. 24, 2023 at par if the level of each underlier is greater than or equal to its initial price on a quarterly review date
|
| Initial levels: | 11,969.65 for Nasdaq, $66.61 for Utilities, $38.30 for Emerging Markets
|
| Trigger levels: | 7,181.79 for Nasdaq, $39.966 for Utilities, $22.98 for Emerging Markets, 60% of initial level
|
| Coupon barriers: | 8,378.755 for Nasdaq, $46.627 for Utilities, $26.81 for Emerging Markets, 70% of initial levels
|
| Pricing date: | Feb. 24, 2023
|
| Settlement date: | March 1, 2023
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.95%
|
| Cusip: | 48133UJH6
|
|
|
© 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.
