Published on 10/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $100,000 autocallable barrier notes linked to MerQube US Large-Cap
By Kiku Steinfeld
Chicago, Oct. 26 – JPMorgan Chase Financial Co. LLC priced $100,000 of 0% autocallable barrier notes due April 3, 2028 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at 151% of par if the index closes at or above its initial value on April 2, 2024.
If the index gains, the payout at maturity will be par plus the index return. Investors will receive par if the index declines but ends at or above its 50% barrier and they will lose 1% for every 1% that the index declines if it finishes below the barrier 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 barrier notes
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Underlying index: | MerQube US Large-Cap Vol Advantage index
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Amount: | $100,000
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Maturity: | April 3, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial value, par plus index return; if index declines but finishes at or above its barrier level, par; 1% loss for every 1% that index declines if it finishes below its barrier level
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Initial level: | 2,293.92
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Barrier level: | 1,146.96, 50% of initial level
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Call: | Automatically at par plus 51% if the index closes at or above its initial value on April 2, 2024
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Pricing date: | March 29, 2023
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Settlement date: | March 31, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 5%
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Cusip: | 48133VDW7
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