Published on 11/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.09 million callable contingent interest notes on indexes, ETF
New York, Nov. 27 – JPMorgan Chase Financial Co. LLC priced $1.09 million of callable contingent interest notes due Nov. 22, 2028 linked to the S&P 500 Equal Weight index, the S&P 500 index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.15%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly review date starting Nov. 21, 2024.
If the worst performing asset finishes at or above its 55% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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: | Callable contingent interest notes
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| Underlying assets: | S&P 500 Equal Weight index, S&P 500 index and Technology Select Sector SPDR Fund
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| Amount: | $1,094,000
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| Maturity: | Nov. 22, 2028
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| Coupon: | 9.15%, paid monthly, if each underlier 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 asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
|
| Call option: | At par on any quarterly review date starting Nov. 21, 2024
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| Initial levels: | 5,895.36 for S&P 500 Equal Weight, 4,514.02 for S&P 500, $182.80 for Technology Select Sector SPDR Fund,
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| Downside thresholds: | 3,242.448 for S&P 500 Equal Weight, 2,482.711 for S&P 500, $100.54 for Technology Select Sector SPDR Fund, 55% of initial levels
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| Coupon barriers: | 4,126.752 for S&P 500 Equal Weight, 3,159.814 for S&P 500, $127.96 for Technology Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48134RAF5
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