New York, April 13 – JPMorgan Chase Financial Co. LLC priced $1.09 million of autocallable contingent interest notes due Feb. 26, 2026 linked to the Industrial Select Sector SPDR Fund and the Materials Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly review date starting Aug. 21, 2023.
At maturity, the payout will be par unless the worst performing ETF finishes below its 70% 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: | Industrial Select Sector SPDR Fund and Materials Select Sector SPDR Fund
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| Amount: | $1,094,000
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| Maturity: | Feb. 26, 2026
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| Coupon: | 8.5%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF finishes 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 at par if the closing price of each underlying fund is greater than or equal to its initial price on any quarterly review date starting Aug. 21, 2023
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| Initial levels: | $100.67 for Industrial Select Sector SPDR Fund, $79.96 for Materials Select Sector SPDR Fund
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| Trigger levels: | $70.469 for Industrial Select Sector SPDR Fund, $55.972 for Materials Select Sector SPDR Fund, 70% of initial level
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48133UH47
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