Published on 8/25/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.47 million leveraged upside participation notes on S&P, Russell
Chicago, Aug. 25 – JPMorgan Chase Financial Co. LLC priced $2.47 million of 0% market-linked securities with leveraged upside participation to a cap and fixed percentage downside due Aug. 30, 2024 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above initial levels, the payout at maturity will be par plus 150% the return of the lowest performer capped at par plus 14.55%.
If any index declines up to 10%, the payout at maturity will be par.
If any index finishes below its initial index level by more than 10%, investors will lose 1% for every 1% that the worst performer declines beyond 10%.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Market-linked securities – leveraged upside participation to a cap and fixed percentage downside
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $2,470,000
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| Maturity: | Aug. 30, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial levels, par plus 150% the return of the lowest performer capped at par plus 14.55%; if any index finishes below its initial level by up to 10%, par; if any index finishes below its initial level by more than 10%, 1% loss for every 1% that the worst performer declines beyond 10%
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| Initial levels: | 1,859.421 for Russell, 4,369.71 for S&P
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| Buffer levels: | 1,673.4789 for Russell, 3,932.739 for S&P; 90% of initial level
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 23
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| Agents: | J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
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| Fees: | 2.325%
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| Cusip: | 48133YH80
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