Published on 7/24/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.62 million callable contingent interest notes on three indexes
New York, July 24 – JPMorgan Chase Financial Co. LLC priced $2.62 million of callable contingent interest notes due Jan. 3, 2025 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting Oct. 5.
If the worst performing index finishes at or above its 70% downside threshold, the payout at maturity will be par.
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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
|
| Amount: | $2,619,000
|
| Maturity: | Jan. 3, 2025
|
| Coupon: | 11.5%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call option: | At par on any monthly review date starting Oct. 5
|
| Initial levels: | 34,407.60 for Dow Jones industrial average, 15,179.21 for Nasdaq-100, 1,888.734 for Russell 2000
|
| Downside thresholds: | 24,085.32 for Dow Jones industrial average, 10,625.447 for Nasdaq-100, 1,322.1138 for Russell 2000, 70% of initial levels
|
| Coupon barriers: | 27,526.08 for Dow Jones industrial average, 12,143.368 for Nasdaq-100, 1,510.9872 for Russell 2000, 80% of initial levels
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.46254%
|
| Cusip: | 48133XL95
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
