Published on 11/13/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $300,000 7.25% autocallable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Nov. 14 – JPMorgan Chase Financial Co. LLC priced $300,000 of autocallable contingent interest notes due Dec. 19, 2023 linked to the Nasdaq-100 index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid quarterly, if each underlier closes at or above its 75% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting June 14 at par and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset declines by more than its 25% buffer in which case investors will be exposed to the decline of the worst performing asset beyond the buffer.
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 assets: | Nasdaq-100 index, S&P 500 index and iShares Russell 2000 Value ETF
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Amount: | $300,000
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Maturity: | Dec. 19, 2023
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Coupon: | 7.25%, paid quarterly, if each underlier closes at or above its 75% downside threshold 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 asset declines by more than its buffer in which case investors will be exposed to the decline in the worst performing asset beyond the buffer
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Call: | Automatically starting June 14 at par and on any subsequent quarterly review date
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Initial levels: | 13,046.64 for Nasdaq, 4,173.11 for S&P, $155.50 for iShares
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Buffer: | 25%
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Pricing date: | March 14
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Settlement date: | March 17
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48133DXE5
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