Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $700,000 20.45% autocallable contingent interest notes on ESG ETFs
Chicago, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $700,000 of autocallable contingent interest notes due Feb. 14, 2024 linked to the lesser performing of the Invesco Solar ETF and iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.45%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Nov. 9, 2022 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 60% 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: | Invesco Solar ETF and iShares Global Clean Energy ETF
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| Amount: | $700,000
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| Maturity: | Feb. 14, 2024
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| Coupon: | 20.45% annual rate, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date
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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 Nov. 9, 2022 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $85.85 for Solar ETF, $22.59 for Clean Energy ETF
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| Coupon barriers: | $60.095 for Solar ETF, $15.813 for Clean Energy ETF, 70% of initial levels
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| Trigger levels: | $51.51 for Solar ETF, $13.554 for Clean Energy ETF, 60% of initial levels
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| Pricing date: | Aug. 9, 2022
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| Settlement date: | Aug. 12, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48133LWZ1
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