Published on 6/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.11 million autocallable contingent interest notes on three ETFs
New York, June 13 – JPMorgan Chase Financial Co. LLC priced $1.11 million of autocallable contingent interest notes due June 1, 2028 linked to the Invesco QQQ Trust, Series 1, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid monthly, if each underlying fund closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each ETF closes at or above its initial level on any quarterly review date starting May 28, 2024.
At maturity, the payout will be par unless the worst performing ETF finishes below its 70% 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 QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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| Amount: | $1,107,000
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| Maturity: | June 1, 2028
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| Coupon: | 7%, paid monthly, if each underlying fund closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing ETF
|
| Call: | Automatically at par if each ETF closes at or above its initial level on any quarterly review date starting May 28, 2024
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| Initial levels: | $348.40 for Invesco QQQ Trust, Series 1, $420.02 for SPDR S&P 500, $176.15 for iShares Russell 2000 ETF
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| Trigger levels: | $243.88 for Invesco QQQ Trust, Series 1, $294.014 for SPDR S&P 500, $123.305 for iShares Russell 2000 ETF, 70% of initial levels
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| Coupon barriers: | $261.30 for Invesco QQQ Trust, Series 1, $315.015 for SPDR S&P 500, $132.1125 for iShares Russell 2000 ETF, 75% of initial levels
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| Pricing date: | May 26
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| Settlement date: | June 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 48133WWR5
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