Published on 10/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.2 million autocallable contingent interest notes on indexes, ETF
New York, Oct. 17 – JPMorgan Chase Financial Co. LLC priced $1.2 million of autocallable contingent interest notes due Oct. 14, 2027 linked to the Russell 2000 index, the S&P 500 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.35%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each asset closes at or above its initial level on any quarterly review date starting April 10, 2024.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% 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: | Russell 2000 index, S&P 500 index and Utilities Select Sector SPDR Fund
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| Amount: | $1.2 million
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| Maturity: | Oct. 14, 2027
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| Coupon: | 10.35%, paid monthly, if each underlier 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 asset finishes 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 if each asset closes at or above its initial level on any quarterly review date starting April 10, 2024
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| Initial levels: | 1,775.946 for Russell 2000, 4,358.24 for S&P 500, $58.61 for Utilities Select Sector SPDR Fund
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| Trigger levels: | 1,065.5676 for Russell 2000, 2,614.944 for S&P 500, $35.166 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Coupon barriers: | 1,243.1622 for Russell 2000, 3,050.768 for S&P 500, $41.027 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48134BPV9
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