Published on 6/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.21 million callable contingent interest notes on Russell, ETFs
New York, June 27 – JPMorgan Chase Financial Co. LLC priced $1.21 million of callable contingent interest notes due June 25, 2026 linked to the Russell 2000 index, the VanEck Gold Miners ETF and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlier closes at or above its 50% downside threshold on the related monthly observation date.
The securities may be called at par on any monthly review date starting Dec. 26, 2023.
If the worst performing asset finishes at or above its 50% downside threshold, the payout at maturity will be par plus the coupon. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from its initial 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: | Russell 2000 index, VanEck Gold Miners ETF and iShares Russell 2000 Value ETF
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| Amount: | $1,211,000
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| Maturity: | June 25, 2026
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| Coupon: | 10.5%, paid monthly, if each underlier closes at or above its 50% downside threshold 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; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting Dec. 26, 2023
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| Initial levels: | 1,866.699 for Russell 2000, $30.14 for VanEck Gold Miners ETF, $139.65 for iShares Russell 2000 Value ETF
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| Downside thresholds: | 933.3495 for Russell 2000, $15.07 for VanEck Gold Miners ETF, $69.825 for iShares Russell 2000 Value ETF, 50% of initial level
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| Pricing date: | June 20
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| Settlement date: | June 23
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45454%
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| Cusip: | 48133XRS7
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