Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $382,000 8.35% autocallable contingent interest notes on index, ETF
By Kiku Steinfeld
Chicago, June 13 – JPMorgan Chase Financial Co. LLC priced $382,000 of autocallable contingent interest notes due Jan. 29, 2026 linked to the 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 8.35%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting July 26, 2023 at par if the level of each underlier is greater than or equal to its initial level on any monthly 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: | S&P 500 index and iShares Russell 2000 Value ETF
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Amount: | $382,000
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Maturity: | Jan. 29, 2026
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Coupon: | 8.35%, paid monthly, if each underlier closes at or above its 80% 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 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 July 26, 2023 at par if the level of each underlier is greater than or equal to its initial level on any monthly review date
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Initial levels: | 4,060.43 for S&P, $149.11 for iShares Russell
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Buffer levels: | 3,045.3225 for S&P, $111.8325 for iShares Russell, 75% of initial levels
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Pricing date: | Jan. 26, 2023
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Settlement date: | Jan. 31, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133T2A2
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