Published on 2/7/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.04 million digital notes on Russell, S&P, Dow
Chicago, Feb. 7 – JPMorgan Chase Financial Co. LLC priced $2.04 million of 0% digital notes due June 2, 2023 linked to the least performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive par plus the 15.5% contingent digital return if none of the three indexes close below the 75% trigger level during the life of the notes.
If one or more of the indexes dip below the 75% trigger level during the life but all indexes finish above their initial levels, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the worst performer 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: | Digital notes
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| Underlying indexes: | Russell 2000 index, S&P 500 index, Dow Jones industrial average
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| Amount: | $2,035,000
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| Maturity: | June 2, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 15.5% digital return if all three indexes stay above the 75% trigger level during the life of the notes; if at least one index goes below the 75% trigger level but all three end above their initial levels, par; otherwise, full exposure to the losses of the worst performer from its initial level
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| Initial levels: | 1,864.103 for Russell, 4,131.93 for S&P, 32,977.21 for Dow
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| Trigger levels: | 1,398.07725 for Russell, 3,098.9475 for S&P, 24,732.9075 for Dow; 75% of initial levels
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| Pricing date: | April 29, 2022
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| Settlement date: | May 4, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.5%
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| Cusip: | 48133FUU7
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