Published on 3/18/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.3 million digital barrier notes linked to Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, March 18 – JPMorgan Chase Financial Co. LLC priced $1.3 million of 0% digital barrier notes due July 9, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index ends above its 60% digital barrier the payout at maturity will be par plus 7.5%. The payout will be par if the worst performing index ends below its digital barrier but above its 50% downside threshold. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the downside threshold 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: | Digital barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1.3 million
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| Maturity: | July 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 60% digital barrier, par plus 7.5%; par if worst performing index ends below its digital barrier but above 50% downside threshold; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold
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| Initial levels: | 15,179.21 for Nasdaq, 1,888.734 for Russell, 4,450.38 for S&P
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| Digital payment: | 7.5%
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| Digital barriers: | 9,107.526 for Nasdaq index, 1,133.2404 for Russell, 2,670.228 for S&P, 60% of initial level
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| Downside thresholds: | 7,589.605 for Nasdaq, 944.367 for Russell, 2,225.19 for S&P, 50% of initial level
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
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| Cusip: | 48133XL38
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