Published on 12/14/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.71 million autocallable contingent interest notes on Russell, S&P
New York, Dec. 14 – JPMorgan Chase Financial Co. LLC priced $1.71 million of autocallable contingent interest notes due Dec. 13, 2023 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying index closes at or above its 60% trigger level on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly review date.
If the notes have not been called, the payout at maturity will be par unless either index closes below its 60% trigger level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.
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 indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1,708,000
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Maturity: | Dec. 13, 2023
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Coupon: | 10%, paid monthly, if each underlying index closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless either index closes below its 60% trigger level during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level
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Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly review date
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Initial levels: | 1,818.290 for Russell 2000, 3,963.51 for S&P 500
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Trigger levels: | 1,090.974 for Russell 2000, 2,378.106 for S&P 500, 60% of initial level
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Pricing date: | Dec. 8
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Settlement date: | Dec. 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.68109%
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Cusip: | 48133PYS6
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