Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.08 million 8.1% callable contingent interest notes on indexes
New York, July 31 – JPMorgan Chase Financial Co. LLC priced $1.08 million of callable contingent interest notes due June 27, 2025 linked to the Nasdaq-100 Technology Sector 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 8.1%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation 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 securities may be called starting Oct. 27 and on any subsequent monthly review date.
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 Technology Sector index, Russell 2000 index and S&P 500 index
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Amount: | $1,079,000
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Maturity: | June 27, 2025
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Coupon: | 8.1%, paid monthly, if each underlying index closes at or above its 75% coupon barrier 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: | Starting Oct. 27 and on any subsequent monthly review date
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Initial levels: | 8,200.72 for Nasdaq-100 Technology Sector, 1,965.678 for Russell 2000, 4,554.64 for S&P 500
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Downside thresholds: | 5,740.504 for Nasdaq-100 Technology Sector, 1,375.9746 for Russell 2000, 3,188.248 for S&P 500, 70% of initial level
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Coupon barriers: | 6,150.54 for Nasdaq-100 Technology Sector, 1,474.2585 for Russell 2000, 3,415.98 for S&P 500, 75% of initial levels
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Pricing date: | July 24
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Settlement date: | July 27
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.75%
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Cusip: | 48133YNA8
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