Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $370,000 contingent interest autocallables linked to MerQube index
By Angela McDaniels
Tacoma, Wash., April 16 – JPMorgan Chase Financial Co. LLC priced $370,000 of autocallable contingent interest notes due July 14, 2028 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 15.75% per year if the index closes at or above the interest barrier, 60% of the initial index level, on the review date for that month.
The notes will be automatically called at par if the index closes at or above the initial index level on any monthly review date other than the first through 11th and final review dates.
The payout at maturity will be par unless the index finishes below the trigger value, 60% of the initial index level, in which case investors will be exposed to the index’s decline from its initial index level.
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 index: | MerQube US Tech+ Vol Advantage index
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| Amount: | $370,000
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| Maturity: | July 14, 2028
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| Coupon: | 15.75% per year, payable monthly if index closes at or above interest barrier on review date for that month
|
| Price: | Par
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| Payout at maturity: | Par unless index finishes below trigger value, in which case exposure to index’s decline from initial index level
|
| Call: | Automatically at par if index closes at or above initial index level on any monthly review date other than first through 11th and final review dates
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| Initial index level: | 8,543.18
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| Interest barrier: | 5,125.908, 60% of initial index level
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| Trigger value barrier: | 5,125.908, 60% of initial index level
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| Strike date: | July 11, 2023
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| Pricing date: | July 14, 2023
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| Settlement date: | July 18, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.85%
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| Cusip: | 48133YGM0
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