Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.34 million callable contingent interest notes linked to Russell, S&P
New York, June 30 – JPMorgan Chase Financial Co. LLC priced $3.34 million of callable contingent interest notes due June 26, 2026 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid semiannually, if each index closes at or above its 70% downside threshold on the relevant observation date.
The securities may be called at par on any semiannual determination date starting June 27, 2024.
If the worst performing index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the coupon.
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: | Callable contingent interest notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $3,337,000
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Maturity: | June 26, 2026
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Coupon: | 8.5%, paid semiannually, if each index closes at or above its 70% downside threshold on the relevant observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call option: | At par on any semiannual determination date starting June 27, 2024
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Initial levels: | 1,821.635 for Russell 2000, 4,348.33 for S&P 500
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Downside thresholds: | 1,275.1445 for Russell 2000, 3,043.831 for S&P 500, 70% 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: | 2%
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Cusip: | 48133XKS4
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