Published on 4/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $406,000 contingent interest autocallable linked to ETF, Nasdaq, Russell
By Angela McDaniels
Tacoma, Wash., April 20 – JPMorgan Chase Financial Co. LLC priced $406,000 of autocallable contingent interest notes due Nov. 30, 2023 linked to the iShares Russell 2000 Value ETF, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Each month, the notes pay a coupon of 19.7% per year if each asset closes at or above its interest barrier, 80% of its initial level, on the observation date for that month.
The notes will be called automatically at par if each asset closes at or above its initial level on any monthly review date other than the first, second and final review dates.
The payout at maturity will be par plus the final coupon, if any, unless the worst performing asset finishes below its trigger level, 70% of its initial level, in which case investors will lose 1% for every 1% that the worst performing asset declines from its initial level.
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: | iShares Russell 2000 Value ETF, the Nasdaq-100 index and the Russell 2000 index
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| Amount: | $406,000
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| Maturity: | Nov. 30, 2023
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| Coupon: | 19.7% per year, payable monthly if each asset closes at or above interest barrier on observation date for that month
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| Price: | Par
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| Payout at maturity: | Par plus final coupon, if any, unless worst performing asset finishes below trigger level, in which case 1% loss for every 1% that worst performing asset declines from initial level
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| Call: | Automatically at par if each asset closes at or above initial level on any monthly review date other than first, second and final review dates
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| Initial levels: | $153.28 for ETF, 12,681.42 for Nasdaq and 1,887.896 for Russell
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| Interest barriers: | $122.624 for ETF, 10,145.136 for Nasdaq and 1,510.3168 for Russell, or 80% of initial levels
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| Trigger levels: | $107.296 for ETF, 8,876.994 for Nasdaq and 1,321.5272 for Russell, or 70% of initial levels
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| Pricing date: | May 27, 2022
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| Settlement date: | June 2, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48133GKB8
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