Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.52 million 12% callable contingent interest notes linked to indexes
New York, Sept. 26 – JPMorgan Chase Financial Co. LLC priced $2.52 million of callable contingent interest notes due March 25, 2025 linked to the Nasdaq-100 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 12%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
If the worst performing index gains or ends above its 67% 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 March 25, 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 index, Russell 2000 index and S&P 500 index
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Amount: | $2,519,000
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Maturity: | March 25, 2025
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Coupon: | 12%, paid monthly, if each underlying index closes at or above its 70% 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 March 25, 2024 at par and on any subsequent monthly review date
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Initial levels: | 14,969.92 for Nasdaq-100, 1,810.102 for Russell 2000, 4,402.20 for S&P 500
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Downside thresholds: | 10,029.8464 for Nasdaq-100, 1,212.76834 for Russell 2000, 2,949.474 for S&P 500, 67% of initial level
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Coupon barriers: | 10,478.944 for Nasdaq-100, 1,267.0714 for Russell 2000, 3,081.54 for S&P 500, 70% of initial levels
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Pricing date: | Sept. 20
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Settlement date: | Sept. 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.68049%
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Cusip: | 48134AB61
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