By Kiku Steinfeld
Chicago, April 8 – JPMorgan Chase Financial Co. LLC priced $552,000 of autocallable contingent interest notes due Jan. 9, 2025 linked to the VanEck Gold Miners ETF and iShares Silver Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically starting Jan. 5, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 70% 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 iShares Silver Trust
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| Amount: | $552,000
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| Maturity: | Jan. 9, 2025
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| Coupon: | 9.8%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly 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 starting Jan. 5, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $29.83 for VanEck Gold Miners ETF, $21.21 for iShares Silver Trust
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| Trigger levels: | $20.881 for VanEck Gold Miners ETF, $14.847 for iShares Silver Trust, 70% of initial level
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| Pricing date: | July 5, 2023
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| Settlement date: | July 10, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133X2D7
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