Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $265,000 6.35% autocallable contingent interest notes linked to S&P
Chicago, Feb. 8 – JPMorgan Chase Financial Co. LLC priced $265,000 of autocallable contingent interest notes due May 23, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.35%, paid monthly, if the underlying index closes at or above its 80% interest barrier level on the related monthly observation date.
The securities will be called automatically starting Nov. 20, 2023 at par if the level of the index is greater than or equal to its initial level and on any subsequent monthly review date.
At maturity the payout will be par unless the index declines by more than its 20% buffer in which case investors will be exposed to the decline of the index beyond the buffer.
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: | Autocallable contingent interest notes
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Underlying index: | S&P 500 index
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Amount: | $265,000
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Maturity: | May 23, 2024
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Coupon: | 6.35% annual rate, paid monthly, if the underlying index closes at or above its 80% interest barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the index declines by more than its buffer in which case investors will be exposed to the decline in the index beyond the buffer
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Call: | Automatically starting Nov. 20, 2023 at par if the level of the index is greater than or equal to its initial level and on any subsequent monthly review date
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Initial level: | 4,191.98
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Interest barrier level: | 3,353.584, 80% of initial level
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Buffer level: | 3,353.584, 80% of initial level
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Buffer: | 20%
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Pricing date: | May 19, 2023
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Settlement date: | May 24, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48133WQQ4
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