Published on 5/6/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $15,000 review notes linked to MerQube US Large-Cap
By Kiku Steinfeld
Chicago, May 8 – JPMorgan Chase Financial Co. LLC priced $15,000 of 0% review notes due Jan. 2, 2026 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index ends above its 60% downside threshold, the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines if it finishes below the downside threshold level.
The notes will be called automatically starting Jan. 2, 2024 and on any subsequent annual review date at par plus 33.5% per year if the index closes at or above 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 index: | MerQube US Large-Cap Vol Advantage index
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Amount: | $15,000
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Maturity: | Jan. 2, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
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Initial level: | 2,254.56
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Downside threshold level: | 1,352.736, 60% of initial level
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Call: | Automatically starting Jan. 2, 2024 and on any subsequent annual review date at par plus 33.5% per year if the index closes at or above its initial value
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Pricing date: | Dec. 29, 2022
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Settlement date: | Jan. 4, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133PE66
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