Published on 7/31/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.50 million 9.5% callable contingent interest notes on indexes
New York, July 31 – JPMorgan Chase Financial Co. LLC priced $3.50 million of callable contingent interest notes due July 29, 2027 linked to 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 9.5%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
If the worst performing index gains or ends above its 60% 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 Jan. 29, 2024 and on any subsequent quarterly 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 index, Russell 2000 index and S&P 500 index
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Amount: | $3,504,000
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Maturity: | July 29, 2027
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Coupon: | 9.5%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly 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 Jan. 29, 2024 and on any subsequent quarterly review date
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Initial levels: | 15,448.02 for Nasdaq-100, 1,965.678 for Russell 2000, 4,554.64 for S&P 500
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Downside thresholds: | 9,268.812 for Nasdaq-100, 1,179.4068 for Russell 2000, 2,732.784 for S&P 500, 60% of initial level
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Coupon barriers: | 10,813.614 for Nasdaq-100, 1,375.9746 for Russell 2000, 3,188.248 for S&P 500, 70% 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: | 0%
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Cusip: | 48133YHU1
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