Published on 6/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $430,000 11.5% callable contingent interest notes on indexes, ETF
Chicago, June 26 – JPMorgan Chase Financial Co. LLC priced $430,000 of callable contingent interest notes due Dec. 5, 2024 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date.
The securities may be called at par starting Dec. 5, 2023 and on any subsequent monthly review date.
If the worst performing asset gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Biotech ETF
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| Amount: | $430,000
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| Maturity: | Dec. 5, 2024
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| Coupon: | 11.5% annual rate, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | At par starting Dec. 5, 2023 and on any subsequent monthly review date
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| Initial levels: | 14,254.09 for Nasdaq, 1,749.650 for Russell, $83.92 for ETF
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| Downside thresholds: | 9,977.863 for Nasdaq, 1,224.755 for Russell, $58.744 for ETF, 70% of initial levels
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| Coupon barriers: | 9,265.1585 for Nasdaq, 1,137.2725 for Russell, $54.548 for ETF, 65% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.2%
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| Cusip: | 48133WWU8
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