Published on 10/19/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $150,000 uncapped accelerated barrier notes on gold ETFs
Kiku Steinfeld
Chicago, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $150,000 of 0% uncapped accelerated barrier notes due Feb. 23, 2024 linked to the SPDR Gold Trust and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains, the payout at maturity will be par plus 150% of the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but finishes above its 80% barrier. Investors will lose 1% for every 1% that the worst performing ETF declines if it closes below its barrier.
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: | Uncapped accelerated barrier notes
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Underlying ETFs: | SPDR Gold Trust and VanEck Gold Miners ETF
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Amount: | $150,000
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Maturity: | Feb. 23, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF gains, par plus 150% of worst performing ETF return; par if worst performing ETF declines but finishes above its downside barrier; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside barrier
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Initial levels: | $177.12 for SPDR, $34.50 for VanEck
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Upside leverage: | 150%
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Cap: | None
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Barriers: | $141.696 for SPDR, $27.60 for VanEck, 80% of initial levels
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Pricing date: | Feb. 18
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Settlement date: | Feb. 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48133CU26
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