Published on 5/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $446,000 review notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, May 15 – JPMorgan Chase Financial Co. LLC priced $446,000 of 0% review notes due Jan. 13, 2028 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index ends above its 60% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the downside threshold level.
The notes will be called automatically starting Jan. 10, 2024 and on any subsequent semiannual review date at a premium of 9.6% per year if the worst performing index closes above its initial value.
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: | Review notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $446,000
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Maturity: | Jan. 13, 2028
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Coupon: | 0%
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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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Initial levels: | 11,205.78 for Nasdaq, 1,822.653 for Russell, 3,919.25 for S&P
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Downside thresholds: | 6,723.468 for Nasdaq, 1,093.5918 for Russell, 2,351.55 for S&P, 60% of initial level
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Call: | Automatically starting Jan. 10, 2024 and on any subsequent semiannual review date at a premium of 9.6% per year if the worst performing index closes above its initial value
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Pricing date: | Jan. 10, 2023
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Settlement date: | Jan. 13, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 4.125%
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Cusip: | 48133TRQ0
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