Published on 1/5/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.44 million contingent interest notes linked to Russell, S&P
New York, Jan. 5 – JPMorgan Chase Financial Co. LLC priced $1.44 million of contingent interest notes due Dec. 26, 2025 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5% per year, paid semiannually, if each index closes at or above its 70% trigger value on the relevant observation date.
If the worst performing index finishes at or above its 70% trigger value, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its 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: | Contingent interest notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1,439,000
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Maturity: | Dec. 26, 2025
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Coupon: | 8.5% per year, paid semiannually if each index closes at or above its trigger value on the relevant observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 70% trigger value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Initial levels: | 1,776.941 for Russell 2000, 3,878.44 for S&P 500
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Trigger values: | 1,243.8587 for Russell 2000, 2,714.908 for S&P 500, 70% of initial level
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48133PP64
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