Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.99 million callable contingent interest notes on indexes, ETF
New York, Aug. 22 – JPMorgan Chase Financial Co. LLC priced $1.99 million of callable contingent interest notes due Feb. 17, 2026 linked to the Nasdaq-100 Technology Sector index, the Russell 2000 index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.15%, paid monthly, if each underlier closes at or above its 60% downside threshold on the related monthly observation date.
The securities may be called at par on any monthly review date starting Feb. 15, 2024.
If the worst performing asset finishes at or above its 60% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from initial 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 assets: | Nasdaq-100 Technology Sector index, Russell 2000 index and Technology Select Sector SPDR Fund
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| Amount: | $1,985,000
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| Maturity: | Feb. 17, 2026
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| Coupon: | 10.15%, paid monthly, if each underlier closes at or above its 60% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting Feb. 15, 2024
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| Initial levels: | 7,886.57 for Nasdaq-100 Technology Sector, 1,925.114 for Russell 2000, $166.90 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 4,731.942 for Nasdaq-100 Technology Sector, 1,155.0684 for Russell 2000, $100.14 for Technology Select Sector SPDR Fund, 60% of initial levels
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| Pricing date: | Aug. 11
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| Settlement date: | Aug. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133Y5S9
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