Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.2 million review notes linked to Russell 2000, S&P 500
By Kiku Steinfeld
Chicago, Nov. 22 – JPMorgan Chase Financial Co. LLC priced $1.2 million of 0% review notes due March 26, 2025 linked to the 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 70% downside threshold, the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the downside threshold level.
The notes will be called automatically starting Sept. 21, 2022 and on any subsequent semiannual review date at a premium of 12.2% per year if the worst performing index closes at or above 100% of its initial value.
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: | Review notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1.2 million
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Maturity: | March 26, 2025
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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 downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Initial levels: | 2,065.936 for Russell, 4,461.18 for S&P
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Downside thresholds: | 1,446.1552 for Russell, 3,122.826 for S&P, 70% of initial level
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Call: | Automatically starting Sept. 21, 2022 and on any subsequent semiannual review date at a premium of 12.2% per year if the worst performing index closes above 100% of its initial value
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Pricing date: | March 21
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Settlement date: | March 24
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133D4V9
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