Published on 10/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 10.75% callable contingent interest notes on indexes
Chicago, Oct. 20 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due Oct. 18, 2028 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon of 10.75% if all three indexes close above their 70% interest barriers.
The securities may be called at par starting April 18, 2024 and on any subsequent quarterly review date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its 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: | Callable contingent interest notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1 million
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| Maturity: | Oct. 18, 2028
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| Coupon: | 10.75% annual rate, paid quarterly if all three indexes close above interest barriers
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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; otherwise, 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | At par starting April 18, 2024 and on any subsequent quarterly review date
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| Initial levels: | 14,995.12 for Nasdaq, 1,719.711 for Russell, 4,327.78 for S&P
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| Interest barrier levels: | 10,496.584 for Nasdaq, 1,203.7977 for Russell, 3,029.446 for S&P; 70% of initial levels
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| Downside thresholds: | 10,496.584 for Nasdaq, 1,203.7977 for Russell, 3,029.446 for S&P; 70% of initial levels
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48134BQY2
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