Published on 2/9/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $417,000 11.5% callable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Feb. 9 – JPMorgan Chase Financial Co. LLC priced $417,000 of callable contingent interest notes due June 26, 2025 linked to the MSCI EAFE index, S&P 500 index and iShares MSCI Brazil ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid quarterly, if each underlier closes at or above its 65% trigger level on the related quarterly observation date, plus any previously unpaid coupons.
If the worst performing asset gains or ends above its 65% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
The securities may be called starting Dec. 27, 2023 at par on any 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 assets: | MSCI EAFE index, S&P 500 index and iShares MSCI Brazil ETF
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| Amount: | $417,000
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| Maturity: | June 26, 2025
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| Coupon: | 11.5%, paid quarterly, if each underlier closes at or above its 65% trigger level on the related quarterly observation date, plus any previously unpaid coupons
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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; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Starting Dec. 27, 2023 at par on any quarterly review date
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| Initial levels: | 2,138.78 for MSCI EAFE, 4,365.69 for S&P 500, $33.17 for iShares MSCI Brazil ETF
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| Downside thresholds: | 1,390.207 for MSCI EAFE, 2,837.6985 for S&P 500, $21.5605 for iShares MSCI Brazil ETF, 65% of initial level
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| Pricing date: | June 21, 2023
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| Settlement date: | June 26, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48133XTZ9
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