Published on 5/19/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.3 million 10% callable contingent interest notes on indexes
Chicago, May 19 – JPMorgan Chase Financial Co. LLC priced $1.3 million of callable contingent interest notes due Feb. 18, 2025 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting Aug. 17 and on any subsequent monthly review date.
If the worst performing index 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 index declines if it finishes below its downside threshold 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,303,000
|
| Maturity: | Feb. 18, 2025
|
| Coupon: | 10% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call: | At par starting Aug. 17 and on any subsequent monthly review date
|
| Initial levels: | 13,340.18 for Nasdaq, 1,740.849 for Russell, 4,124.08 for S&P
|
| Coupon barriers: | 9,338.126 for Nasdaq, 1,218.5943 for Russell, 2,886.856 for S&P, 70% of initial levels
|
| Downside thresholds: | 8,004.108 for Nasdaq, 1,044.5094 for Russell, 2,474.448 for S&P, 60% of initial levels
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.53505%
|
| Cusip: | 48133WYY8
|
|
|
© 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.
