Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.17 million callable contingent interest notes linked to Russell, S&P
New York, May 1 – JPMorgan Chase Financial Co. LLC priced $2.17 million of callable contingent interest notes due April 24, 2026 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a contingent coupon of 8.5% per year, paid semiannually, if each index closes at or above its 70% downside threshold on the relevant observation date.
The securities may be called at par on any semiannual determination date starting April 25, 2024.
If the worst performing index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Russell 2000 index and S&P 500 index
|
| Amount: | $2,169,000
|
| Maturity: | April 24, 2026
|
| Coupon: | 8.5% per year, paid semiannually, if each index closes at or above its 70% downside threshold on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call option: | At par on any semiannual determination date starting April 25, 2024
|
| Initial levels: | 1,791.506 for Russell 2000, 4,133.52 for S&P 500
|
| Downside thresholds: | 1,254.0542 for Russell 2000, 2,893.464 for S&P 500, 70% of initial level
|
| Pricing date: | April 21
|
| Settlement date: | April 26
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2%
|
|
|
| Cusip: | 48133VPW4
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
