Published on 2/9/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.5 million autocallable contingent interest notes on three ETFs
New York, Feb. 9 – JPMorgan Chase Financial Co. LLC priced $1.50 million of autocallable contingent interest notes due Jan. 30, 2025 linked to the Consumer Discretionary Select Sector SPDR Fund, the SPDR S&P Bank ETF and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.75%, paid quarterly, if each underlying fund closes at or above its 72.5% trigger level on the related quarterly observation date.
The securities will be called automatically at par if each ETF closes at or above its initial level on any quarterly valuation date starting July 27, 2023.
At maturity, the payout will be par unless the worst performing ETF finishes below its 72.5% 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: | Consumer Discretionary Select Sector SPDR Fund, SPDR S&P Bank ETF and SPDR S&P Regional Banking ETF
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Amount: | $1,501,000
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Maturity: | Jan. 30, 2025
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Coupon: | 12.75%, paid quarterly, if each underlying fund closes at or above its 72.5% 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 each ETF closes at or above its initial level on any quarterly valuation date starting July 27, 2023
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Initial levels: | $147.89 for Consumer Discretionary Select Sector SPDR Fund, $47.99 for SPDR S&P Bank ETF, $60.94 for SPDR S&P Regional Banking ETF
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Trigger levels: | $107.22025 for Consumer Discretionary Select Sector SPDR Fund, $34.79275 for SPDR S&P Bank ETF, $44.1815 for SPDR S&P Regional Banking ETF, 72.5% of initial level
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Pricing date: | Jan. 27
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Settlement date: | Feb. 1
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48133T6H3
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