Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.9 million callable contingent interest notes on indexes, ETF
New York, Aug. 21 – JPMorgan Chase Financial Co. LLC priced $2.90 million of callable contingent interest notes due Aug. 19, 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 9.05%, 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. 17.
If the worst performing asset finishes at or above its 55% 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: | $2,897,000
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| Maturity: | Aug. 19, 2026
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| Coupon: | 9.05%, 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. 17
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| Initial levels: | 15,205.59 for Nasdaq-100, 1,920.493 for Russell 2000, $146.56 for iShares Russell 2000 Value ETF
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| Downside thresholds: | 8,363.0745 for Nasdaq-100, 1,056.27115 for Russell 2000, $80.608 for iShares Russell 2000 Value ETF, 55% of initial levels
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| Coupon barriers: | 10,643.913 for Nasdaq-100, 1,344.3451 for Russell 2000, $102.592 for iShares Russell 2000 Value ETF, 70% of initial levels
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| Pricing date: | Aug. 14
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| Settlement date: | Aug. 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133YJ47
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