Published on 9/6/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million uncapped accelerated barrier notes linked to ETFs
New York, Sept. 6 – JPMorgan Chase Financial Co. LLC priced $1 million of 0% uncapped accelerated barrier notes due March 3, 2028 linked to the Invesco QQQ Trust, Series 1, iShares Russell 1000 Growth ETF and iShares Russell 1000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains the payout at maturity will be par plus 156.25% of the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but finishes above its 90% barrier. Investors will lose 1% for every 1% that the worst performing ETF declines if it closes below its barrier.
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: | Uncapped accelerated barrier notes
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| Underlying ETFs: | Invesco QQQ Trust, Series 1, iShares Russell 1000 Growth ETF and iShares Russell 1000 Value ETF
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| Amount: | $1 million
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| Maturity: | March 3, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing ETF gains par plus 156.25% of worst performing ETF return; par if worst performing ETF declines but finishes above its downside barrier; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside barrier
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| Initial levels: | $376.86 for Invesco QQQ Trust, Series 1, $281.57 for iShares Russell 1000 Growth ETF, $159.57 for iShares Russell 1000 Value ETF
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| Upside leverage: | 156.25%
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| Cap: | None
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| Barriers: | $339.174 for Invesco QQQ Trust, Series 1, $253.413 for iShares Russell 1000 Growth ETF, $143.613 for iShares Russell 1000 Value ETF, 90% of initial level
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| Pricing date: | Aug. 30
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| Settlement date: | Sept. 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 5%
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| Cusip: | 48134AQT5
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