Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $300,000 7% autocallable contingent interest notes linked to ETFs
New York, July 28 – JPMorgan Chase Financial Co. LLC priced $300,000 of autocallable contingent interest notes due July 24, 2026 linked to the Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid monthly, if each underlying fund closes at or above its 75% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Jan. 22, 2024 at par and on any subsequent quarterly 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: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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Amount: | $300,000
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Maturity: | July 24, 2026
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Coupon: | 7%, paid monthly, if each underlying fund closes at or above its 75% coupon barrier 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. 22, 2024 at par and on any subsequent quarterly review date
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Initial levels: | $375.63 for Invesco QQQ Trust, Series 1, $452.18 for SPDR S&P 500, $194.46 for iShares Russell 2000 ETF
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Trigger levels: | $262.941 for Invesco QQQ Trust, Series 1, $316.526 for SPDR S&P 500, $136.122 for iShares Russell 2000 ETF, 70% of initial level
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Coupon barriers: | $281.7225 for Invesco QQQ Trust, Series 1, $339.135 for SPDR S&P 500, $145.845 for iShares Russell 2000 ETF, 75% of initial levels
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Pricing date: | July 21
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Settlement date: | July 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.95%
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Cusip: | 48133YKX1
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