Published on 6/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.24 million uncapped digital barrier notes linked to Dow, Russell
New York, June 29 – JPMorgan Chase Financial Co. LLC priced $2.24 million of 0% uncapped digital barrier notes due June 28, 2028 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index finishes flat or gains, the payout at maturity will be par plus the greater of that index’s return and 63.5%.
The payout will be par if the worst performing index declines but finishes at or above its 75% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from 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: | Uncapped digital barrier notes
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $2,244,000
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Maturity: | June 28, 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 flat or gains, par plus greater of that index return and 63.5%; par if worst performing index declines but finishes at or above its barrier; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Initial levels: | 33,727.43 for Dow Jones industrial average, 1,821.635 for Russell 2000
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Digital payment: | 63.5%
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Barriers: | 25,295.5725 for Dow Jones industrial average, 1,366.22625 for Russell 2000, 75% of initial level
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48133XNB8
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