Published on 8/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.17 million 9.35% callable contingent interest notes on indexes
New York, Aug. 10 – JPMorgan Chase Financial Co. LLC priced $2.17 million of callable contingent interest notes due Feb. 12, 2025 linked to the Nasdaq-100 Technology Sector index, 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 9.35%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation 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 securities may be called starting Feb. 12, 2024 at par and on any subsequent monthly review date.
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 Technology Sector index, Russell 2000 index and S&P 500 index
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Amount: | $2,167,000
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Maturity: | Feb. 12, 2025
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Coupon: | 9.35%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
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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; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | Starting Feb. 12, 2024 at par and on any subsequent monthly review date
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Initial levels: | 1,958.935 for Russell 2000, 4,518.44 for S&P 500 and 8,226.76 for Nasdaq-100 Tech
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Coupon barriers: | 1,567.148 for Russell 2000, 3,614.752 for S&P 500 and 6,581.408 for Nasdaq-100 Tech, 80% of initial levels
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Downside thresholds: | 1,371.2545 for Russell 2000, 3,162.908 for S&P 500 and 5,758.732 for Nasdaq-100 Tech, 70% of initial level
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Pricing date: | Aug. 7
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Settlement date: | Aug. 10
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133YPL2
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