Published on 7/19/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $252,000 6.1% contingent interest autocalls on Nasdaq-100, S&P 500
By Kiku Steinfeld
Chicago, July 19 – JPMorgan Chase Financial Co. LLC priced $252,000 of autocallable contingent interest notes due Aug. 20, 2024 linked to the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.1%, paid monthly, if each underlying index closes at or above its 70% interest barrier level on the related monthly observation date.
The securities will be called automatically starting Feb. 15, 2024 at par if the level of each underlying index is greater than or equal to its initial level and on any on a monthly review date.
At maturity the payout will be par unless the worst performing index declines by more than its 30% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
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: | Nasdaq-100 index and S&P 500 index
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| Amount: | $252,000
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| Maturity: | Aug. 20, 2024
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| Coupon: | 6.1%, paid monthly, if each underlying index closes at or above its interest barrier 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 index declines by more than its buffer in which case investors will be exposed to the decline in the worst performing index beyond the buffer
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| Call: | Automatically starting Feb. 15, 2024 at par if the level of each underlying index is greater than or equal to its initial level on a monthly review date
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| Initial levels: | 12,687.89 for Nasdaq, 4,147.60 for S&P
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| Interest Barrier/Buffer levels: | 8,881.523 for Nasdaq, 2,903.32 for S&P, 70% of initial levels
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| Buffers: | 30%
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| Pricing date: | Feb. 15, 2023
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| Settlement date: | Feb. 21. 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48133UDY5
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