Published on 12/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.2 million 7.5% autocallable contingent interest notes on ETFs
Chicago, Dec. 11 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due Nov. 5, 2026 linked to the least performing of the Industrial Select Sector SPDR Fund, SPDR S&P Biotech ETF and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid quarterly, if each underlying fund closes at or above its 50% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Oct. 31, 2023 at par if the price of each underlying fund 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 ETF closes below its 50% 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, SPDR S&P Biotech ETF and iShares Russell 2000 Value ETF
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| Amount: | $1,198,000
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| Maturity: | Nov. 5, 2026
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| Coupon: | 7.5% annual rate, paid quarterly, if each underlying fund closes at or above its 50% trigger level on the related quarterly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes 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 starting Oct. 31, 2023 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $94.35 for industrial, $82.15 for biotech, $145.32 for Russell ETF
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| Trigger levels: | $47.175 for industrial, $41.075 for biotech, $72.66 for Russell ETF, 50% of initial levels
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| Pricing date: | Oct. 31, 2022
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| Settlement date: | Nov. 3, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.75%
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| Cusip: | 48133PMA8
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