Published on 10/1/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.02 million digital barrier notes on gold ETFs
By Kiku Steinfeld
Chicago, Oct. 3 – JPMorgan Chase Financial Co. LLC priced $1.02 million of 0% digital barrier notes due Aug. 16, 2023 linked to the VanEck Gold Miners ETF and VanEck Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF ends above its 70% digital barrier, the payout at maturity will be par plus 11.65%. The payout will be par if the worst performing ETF ends below its digital barrier but above its 60% downside threshold. Investors will lose 1% for every 1% that the worst performing ETF declines if it finishes below the downside threshold level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Digital barrier notes
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| Underlying ETFs: | VanEck Gold Miners ETF and VanEck Junior Gold Miners ETF
|
| Amount: | $1,015,000
|
| Maturity: | Aug. 16, 2023
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above its 70% digital barrier, par plus 11.65%; par if worst performing ETF ends below its digital barrier but above 60% downside threshold; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside threshold
|
| Initial levels: | $32.43 for Gold Miners, $41.42 for Junior Gold
|
| Digital payment: | 11.65%
|
| Digital barriers: | $22.701 for Gold Miners, $28.994 for Junior Gold, 70% of initial levels
|
| Downside thresholds: | $19.458 for Gold Miners, $24.852 for Junior Gold, 60% of initial levels
|
| Pricing date: | Feb. 11
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| Settlement date: | Feb. 16
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.36847%
|
| Cusip: | 48133CL42
|
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