Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $553,000 10.7% autocallable contingent interest notes on indexes, ETF
Chicago, Aug. 29 – JPMorgan Chase Financial Co. LLC priced $553,000 of autocallable contingent interest notes due Feb. 21, 2025 linked to the least performing of the Dow Jones industrial average, Nasdaq-100 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.7%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Feb. 17, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying assets: | Dow Jones industrial average, Nasdaq-100 index and SPDR S&P Regional Banking ETF
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| Amount: | $553,000
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| Maturity: | Feb. 21, 2025
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| Coupon: | 10.7% annual rate, paid quarterly, if each underlier closes at or above its 70% 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 asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting Feb. 17, 2023 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | 33,980.32 for Dow, 13,470.86 for Nasdaq, $67.74 for ETF
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| Trigger levels: | 20,388.192 for Dow, 8,082.516 for Nasdaq, $40.644 for ETF, 60% of initial levels
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| Coupon barriers: | 23,786.224 for Dow, 9,429.602 for Nasdaq, $47.418 for ETF, 70% of initial levels
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| Pricing date: | Aug. 17, 2022
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| Settlement date: | Aug. 22, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.7%
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| Cusip: | 48133MJS0
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