Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $500,000 8.95% autocallable contingent interest notes on index, ETF
Chicago, May 18 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due March 28, 2024 linked to the lesser performing of the Nasdaq-100 index and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.95%, paid monthly, if each underlier closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically at par starting June 23, 2023 if the level of each underlier 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 asset closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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 and SPDR S&P 500 ETF Trust
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| Amount: | $500,000
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| Maturity: | March 28, 2024
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| Coupon: | 8.95% annual rate, paid monthly, if each underlier closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically at par starting June 23, 2023 if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | 11,697.68 for Nasdaq, $378.06 for ETF
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| Trigger levels: | 8,188.376 for Nasdaq, $264.642 for ETF, 70% of initial levels
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| Pricing date: | June 23, 2022
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| Settlement date: | June 28, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48133GN90
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