Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $732,000 12% autocallable contingent interest notes on gold ETFs
Chicago, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $732,000 of autocallable contingent interest notes due Nov. 9, 2023 linked to the lesser performing of the VanEck Gold Miners ETF and VanEck Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid quarterly, if each underlying fund closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par starting Nov. 7, 2022 and on any subsequent quarterly review date if both ETFs close above their initial levels.
At maturity the payout will be par unless the worst performing ETF closes below its 60% 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: | VanEck Gold Miners ETF and VanEck Junior Gold Miners ETF
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Amount: | $732,000
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Maturity: | Nov. 9, 2023
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Coupon: | 12% annual rate, paid quarterly, if each underlying fund closes at or above its 70% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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Call: | Automatically at par starting Nov. 7, 2022 and on any subsequent quarterly review date if both ETFs close above initial levels
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Initial levels: | $34.24 for VanEck Gold Miners ETF, $41.45 for VanEck Junior Gold Miners ETF
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Trigger levels: | $20.544 for VanEck Gold Miners ETF, $24.87 for VanEck Junior Gold Miners ETF, 60% of initial levels
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Coupon barriers: | $23.968 for VanEck Gold Miners ETF, $29.015 for VanEck Junior Gold Miners ETF, 70% of initial levels
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Pricing date: | May 6, 2022
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Settlement date: | May 11, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133FD28
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