Published on 11/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.44 million leveraged capped market-linked securities on indexes
By William Gullotti
Buffalo, N.Y., Nov. 20 – JPMorgan Chase Financial Co. LLC priced $3.44 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage buffered downside due Oct. 11, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If the lowest performing index finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the return of that index, capped at par plus 13.6%.
Investors will receive par if the worst performer declines by no more than 10% and will lose 1% for every 1% decline of the worst performer beyond 10%.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index
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| Amount: | $3,443,000
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| Maturity: | Oct. 11, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the lowest performing index finishes flat or gains, par plus 1.5 times the return of that index, capped at par plus 13.6%; if worst performer declines but finishes at or above buffer level, par; otherwise, 1% loss for each 1% decline of worst performer below buffer level
|
| Initial levels: | 4,288.05 for S&P, 1,785.102 for Russell
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| Buffer levels: | 3,859.245 for S&P, 1,606.5918 for Russell; 90% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agents: | J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
|
| Fees: | 2.325%
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| Cusip: | 48134A5J0
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