Published on 11/15/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.9 million autocallable contingent interest notes on two indexes
New York, Nov. 15 – JPMorgan Chase Financial Co. LLC priced $1.9 million of autocallable contingent interest notes due May 14, 2024 linked to the Russell 1000 Value index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying index closes at or above its 72% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly review date starting May 9, 2023.
At maturity, the payout will be par unless the worst performing index finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the worst performing index.
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 indexes: | Russell 1000 Value index and S&P 500 index
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Amount: | $1.9 million
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Maturity: | May 14, 2024
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Coupon: | 10%, paid quarterly, if each underlying index closes at or above its 72% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly review date starting May 9, 2023
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Initial levels: | 1,456.572 for Russell 1000 Value, 3,748.57 for S&P 500
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Trigger levels: | 1,019.6004 for Russell 1000 Value, 2,623.999 for S&P 500, 70% of initial level
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Coupon barriers: | 1,048.73184 for Russell 1000 Value, 2,698.9704 for S&P 500, 72% of initial levels
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Pricing date: | Nov. 9
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Settlement date: | Nov. 15
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133PSH7
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