Published on 8/3/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.1 million autocallable accelerated barrier notes on indexes
Chicago, Aug. 3 – JPMorgan Chase Financial Co. LLC priced $2.1 million of 0% autocallable accelerated barrier notes due July 30, 2026 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.
The notes will be called automatically on either annual review at an annual premium of 13.25% if the worst performing index closes above its initial value.
If the worst performing index gains the payout will be par plus 150% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier 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: | Autocallable accelerated barrier notes
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $2,097,000
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Maturity: | July 30, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 150% of worst performing index return; if worst performing index declines but 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: | Automatically on July 29, 2024 at a premium of 13.25% if the worst performing index closes above its initial value
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Initial level: | 15,499.26 for Nasdaq, 1,980.355 for Russell, 4,566.75 for S&P
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Downside threshold: | 10,849.482 for Nasdaq, 1,386.2485 for Russell, 3,196.725 for S&P, 70% of initial levels
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Upside leverage: | 150%
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3%
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Cusip: | 48133XE93
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