Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.44 million callable contingent interest notes on three indexes
New York, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $2.44 million of callable contingent interest notes due Aug. 7, 2025 linked to the Euro Stoxx 50 index, 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 10.5%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly review date starting Feb. 8, 2024.
If the worst performing index finishes at or above its 75% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial 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: | Euro Stoxx 50 index, Nasdaq-100 index and Russell 2000 index
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Amount: | $2.44 million
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Maturity: | Aug. 7, 2025
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Coupon: | 10.5%, paid quarterly, if each underlying index closes at or above its 75% downside threshold 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call option: | At par on any quarterly review date starting Feb. 8, 2024
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Initial levels: | 4,332.91 for Euro Stoxx 50, 15,274.92 for Nasdaq-100, 1,957.463 for Russell 2000
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Downside thresholds: | 3,249.6825 for Euro Stoxx 50, 11,456.19 for Nasdaq-100, 1,468.09725 for Russell 2000, 75% of initial level
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Pricing date: | Aug. 4
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Settlement date: | Aug. 9
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48133Y4J0
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