Published on 5/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $18.88 million callable yield notes on Russell, S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, May 17 – JPMorgan Chase Financial Co. LLC priced $18.88 million of 13.1% callable yield notes due May 16, 2024 linked to the least performing of the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
Interest is payable monthly.
The notes will be callable quarterly at par plus the coupon beginning Nov. 16, 2023.
The payout at maturity will be par plus the coupon unless any index finishes below its initial level and or no index has ever closed below its 70% trigger any day during the life of the notes, in which case investors will lose 1% for each 1% decline of the worst performing index.
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.
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| Issue: | Callable yield notes
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| Underlying indexes: | Nasdaq-100, Russell 2000 and S&P 500
|
| Amount: | $18,881,000
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| Maturity: | May 16, 2024
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| Coupon: | 13.1%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if each index finishes at or above initial level or no index ever closes below trigger level; otherwise, 1% loss for each 1% decline of worst performing index
|
| Call: | Callable quarterly at par plus the coupon beginning Nov. 16, 2023
|
| Initial index levels: | 13,340.18 for Nasdaq, 1,740.849 for Russell, 4,124.08 for S&P
|
| Triggers: | 9,338.126 for Nasdaq, 1,218.5943 for Russell and 2,886.856 for S&P; 70% of initial levels
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| Pricing date: | May 12
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| Settlement date: | May 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.45%
|
| Cusip: | 48133WAG3
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