Published on 8/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.03 million 8% callable contingent interest notes on EM, EAFE indexes
By Kiku Steinfeld
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $2.03 million of callable contingent interest notes due Feb. 27, 2025 linked to the MSCI EAFE index and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlying index closes at or above its 60% trigger level on the related quarterly observation date.
If the worst performing index gains or ends above its 60% 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 Aug. 29, 2023 at par on a quarterly 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: | MSCI EAFE index and MSCI Emerging Markets index
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| Amount: | $2,028,000
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| Maturity: | Feb. 27, 2025
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| Coupon: | 8%, paid quarterly, if each underlying index closes at or above its 60% trigger level on the related quarterly 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 Aug. 29, 2023 at par on a quarterly review date
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| Initial levels: | 2,035.26 for MSCI EAFE, 971.87 for MSCI Emerging Markets
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| Downside thresholds: | 1,221.156 for MSCI EAFE, 583.122 for MSCI Emerging Markets, 60% of initial level
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| Pricing date: | Feb. 24, 2023
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| Settlement date: | March 1, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133UJZ6
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