Published on 4/11/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.1 million 13.1% yield notes linked to two stocks, SPDR ETF
New York, April 11 – JPMorgan Chase Financial Co. LLC priced $1.1 million of yield notes due April 1, 2025 linked to the SPDR S&P 500 ETF Trust and the common stocks of DexCom, Inc. and Waste Management, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.1%, paid monthly.
If the worst performing asset finishes at or above its 60% trigger, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% decline in the worst performing asset from initial level.
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: | Yield notes
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Underlying assets: | DexCom, Inc., SPDR S&P 500 ETF Trust and Waste Management, Inc.
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Amount: | $1.1 million
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Maturity: | April 1, 2025
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Coupon: | 13.1%, paid monthly
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its 60% trigger, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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Initial levels: | $396.49 for SPDR S&P 500, $153.58 for Waste Management, $116.07 for DexCom
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Triggers: | $237.894 for SPDR S&P 500, $92.148 for Waste Management, $69.642 for DexCom, or 60% of initial levels
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Strike date: | March 27
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Pricing date: | March 29
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Settlement date: | April 3
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48133VKQ2
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