Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.2 million 8.5% callable contingent interest notes on indexes
Chicago, July 14 – JPMorgan Chase Financial Co. LLC priced $1.2 million of callable contingent interest notes due Jan. 15, 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 8.5%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date.
The securities may be called at par starting Oct. 13 and on any subsequent monthly review date.
If the worst performing index 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 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Callable contingent interest notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,201,000
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Maturity: | Jan. 15, 2025
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Coupon: | 8.5% annual rate, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly 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; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | At par starting Oct. 13 and on any subsequent monthly review date
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Initial levels: | 15,045.64 for Nasdaq, 1,895.252 for Russell, 4,409.53 for S&P
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Downside thresholds: | 10,531.948 for Nasdaq, 1,326.6764 for Russell, 3,086.671 for S&P, 70% of initial levels
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Pricing date: | July 10
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Settlement date: | July 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48133YCK8
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