By Kiku Steinfeld
Chicago, Jan. 26 – JPMorgan Chase Financial Co. LLC priced $582,000 of autocallable contingent interest notes due Dec. 12, 2024 linked to the Health Care Select Sector SPDR Fund and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.5%, paid monthly, if each underlying fund closes at or above its 80% trigger level on the related monthly observation date.
The securities will be called automatically starting Sept. 7, 2023 at par if the price of each underlying fund is greater than or equal to its initial price on a monthly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 80% 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: | Health Care Select Sector SPDR Fund and Utilities Select Sector SPDR Fund
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Amount: | $582,000
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Maturity: | Dec. 12, 2024
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Coupon: | 6.5%, paid monthly, if each underlying fund closes at or above its 80% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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Call: | Automatically starting Sept. 7, 2023 at par if the price of each underlying fund is greater than or equal to its initial on a monthly review date
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Initial levels: | $129.19 for Health Care Select Sector SPDR Fund, $66.49 for Utilities Select Sector SPDR Fund
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Trigger levels: | $103.352 for Health Care Select Sector SPDR Fund, $53.192 for Utilities Select Sector SPDR Fund, 80% of initial level
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Pricing date: | June 7, 2023
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Settlement date: | June 12, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133XB54
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