Published on 8/3/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.06 million 10.25% callable contingent interest notes on indexes, ETF
New York, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $4.06 million of callable contingent interest notes due July 30, 2026 linked to the Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
If the worst performing asset 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 asset declines if it finishes below its downside threshold level.
The securities may be called starting Feb. 1, 2024 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 assets: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $4,058,000
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| Maturity: | July 30, 2026
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| Coupon: | 10.25%, 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; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Starting Feb. 1, 2024 and on any subsequent monthly review date
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| Initial levels: | 15,464.93 for Nasdaq-100, 1,954.896 for Russell 2000, $67.19 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 9,278.958 for Nasdaq-100, 1,172.9376 for Russell 2000, $40.314 for Utilities Select Sector SPDR Fund, 60% of initial level
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| Coupon barriers: | 10,825.451 for Nasdaq-100, 1,368.4272 for Russell 2000, $47.033 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | July 27
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| Settlement date: | Aug. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.94754%
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| Cusip: | 48133YMR2
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