Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.45 million callable contingent interest notes on indexes, ETF
New York, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $3.45 million of callable contingent interest notes due Aug. 5, 2026 linked to the Nasdaq-100 index, the Russell 2000 index and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting Nov. 3.
If the worst performing asset finishes at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index and iShares Russell 2000 Value ETF
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| Amount: | $3,454,000
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| Maturity: | Aug. 5, 2026
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| Coupon: | 9.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting Nov. 3
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| Initial levels: | 15,757.00 for Nasdaq-100, 2,003.177 for Russell 2000, $151.24 for iShares Russell 2000 Value ETF
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| Downside thresholds: | 9,454.20 for Nasdaq-100, 1,201.9062 for Russell 2000, $90.744 for iShares Russell 2000 Value ETF, 60% of initial levels
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| Coupon barriers: | 11,029.90 for Nasdaq-100, 1,402.2239 for Russell 2000, $105.868 for iShares Russell 2000 Value ETF, 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75023%
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| Cusip: | 48133YQU1
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