Published on 8/26/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.18 million autocallable contingent interest notes on three SPDR ETFs
New York, Aug. 26 – JPMorgan Chase Financial Co. LLC priced $1.18 million of autocallable contingent interest notes due Feb. 28, 2024 linked to the SPDR S&P Regional Banking ETF, the Energy Select Sector SPDR Fund and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.3%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each ETF closes at or above its call level, 85% of its initial level, on any monthly review date starting Feb. 23, 2023.
At maturity, the payout will be par unless the worst performing ETF finishes below its 60% 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: | SPDR S&P Regional Banking ETF, Energy Select Sector SPDR Fund and Utilities Select Sector SPDR Fund
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| Amount: | $1.18 million
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| Maturity: | Feb. 28, 2024
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| Coupon: | 10.3%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier 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 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 each ETF closes at or above its call level on any monthly review date starting Feb. 23, 2023
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| Initial levels: | $82.17 for Energy Select Sector SPDR Fund, $64.89 for SPDR S&P Regional Banking ETF, $76.18 for Utilities Select Sector SPDR Fund
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| Trigger levels: | $49.302 for Energy Select Sector SPDR Fund, $38.934 for SPDR S&P Regional Banking ETF, $45.708 for Utilities Select Sector SPDR Fund, 60% of initial level
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| Coupon barriers: | $57.519 for Energy Select Sector SPDR Fund, $45.423 for SPDR S&P Regional Banking ETF, $53.326 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Call levels: | 85% of initial levels
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| Pricing date: | Aug. 23
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| Settlement date: | Aug. 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133MQV5
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