Published on 2/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 13.15% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Feb. 28 – JPMorgan Chase Financial Co. LLC priced $250,000 of autocallable contingent interest notes due Nov. 23, 2027 linked to the Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.15%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Feb. 21, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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: | Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF
|
| Amount: | $250,000
|
| Maturity: | Nov. 23, 2027
|
| Coupon: | 13.15%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
|
| 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 Feb. 21, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
|
| Initial levels: | 1,849.732 for Russell, 3,965.34 for S&P, $146.38 for ETF
|
| Trigger levels: | 1,294.8124 for Russell, 2,775.738 for S&P, $102.466 for ETF, 70% of initial level
|
| Coupon barriers: | 1,387.299 for Russell, 2,974.005 for S&P, $109.785 for ETF, 75% of initial levels
|
| Pricing date: | Nov. 18, 2022
|
| Settlement date: | Nov. 23, 2022
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.75%
|
| Cusip: | 48133PVX8
|
|
|
© 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.
