Published on 9/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $427,000 12% contingent interest autocallables on MerQube US Large-Cap
By Kiku Steinfeld
Chicago, Sept. 21 – JPMorgan Chase Financial Co. LLC priced $427,000 of autocallable contingent interest notes due March 10, 2028 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid monthly, if the underlying index closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Sept. 7, 2023 at par if the level of the index is greater than or equal to its initial level on any monthly review date.
At maturity the payout will be par unless the index closes below its 60% trigger level, in which case investors will be fully exposed to the decline of the index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying index: | MerQube US Large-Cap Vol Advantage index
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| Amount: | $427,000
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| Maturity: | March 10, 2028
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| Coupon: | 12%, paid monthly, if the underlying index closes at or above its 60% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the index closes below its trigger level, in which case investors will be fully exposed to the decline in the index
|
| Call: | Automatically starting Sept. 7, 2023 at par if the level of the index is greater than or equal to its initial level on any monthly review date
|
| Initial level: | 2,329.90
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| Trigger level: | 1,397.94, 60% of initial level
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| Coupon barrier: | 1,397.94, 60% of initial level
|
| Pricing date: | March 7, 2023
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| Settlement date: | March 10, 2023
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 4%
|
| Cusip: | 48133UUB6
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