Published on 10/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.62 million autocallable dual directional accelerated barrier notes
By William Gullotti
Buffalo, N.Y., Oct. 23 – JPMorgan Chase Financial Co. LLC priced $1.62 million of 0% autocallable dual directional accelerated barrier notes due Oct. 21, 2026 linked to the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus a 20% call premium if each index closes at or above initial level on Oct. 21, 2024.
If each index finishes flat or positive, the payout at maturity will be par plus 1.5 times the gain of the worst performer.
If the worst performing index falls but not beyond the 70% barrier level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1% for each 1% decline of the worst performer from its initial level.
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 dual directional accelerated barrier notes
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $1.62 million
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| Maturity: | Oct. 21, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes flat or positive, par plus 1.5 times the return of the worst performer; if the worst performer falls but finishes at or above barrier level, par plus the absolute value of return of that index; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | Automatically at par plus 20% call premium if each index closes at or above initial level on Oct. 21, 2024
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| Initial levels: | 15,172.73 for Nasdaq, 33,984.54 for Dow, 1,747.061 for Russell
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| Barrier levels: | 10,620.911 for Nasdaq, 23,789.178 for Dow, 1,222.9427 for Russell; 70% of initial levels
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48134BVC4
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