Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $106,000 11.5% callable contingent interest notes on fund, index
Chicago, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $106,000 of callable contingent interest notes due July 25, 2025 linked to the lesser performing of the Financial Select Sector SPDR Fund and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a semiannual contingent coupon of 11.5% if both assets close above their 70% interest barrier levels on the related valuation date.
The securities may be called starting Jan. 26, 2023 at par and on any subsequent semiannual determination date.
If the worst performing asset 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 asset 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 assets: | Financial Select Sector SPDR Fund and Nasdaq-100 index
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| Amount: | $106,000
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| Maturity: | July 25, 2025
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| Coupon: | 11.5% annual rate, payable semiannually if both assets close above interest barrier levels on related valuation 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; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
|
| Call: | Starting Jan. 26, 2023 at par and on any subsequent semiannual determination date
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| Initial levels: | $32.75 for fund, 12,396.47 for Nasdaq
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| Interest barrier levels: | $22.925 for fund, 8,677.529 for Nasdaq, 70% of initial levels
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| Downside thresholds: | $22.925 for fund, 8,677.529 for Nasdaq, 70% of initial levels
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| Pricing date: | July 22, 2022
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| Settlement date: | July 27, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133LFQ0
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