Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $457,000 7.55% contingent interest notes linked to Russell, S&P
Chicago, Aug. 29 – JPMorgan Chase Financial Co. LLC priced $457,000 of contingent interest notes due Aug. 22, 2025 linked to the lesser performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a semiannual coupon of 7.55% if both indexes close above 70% of their initial levels on the related observation date.
If the worst performing index gains or ends above its 70% trigger value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its trigger value.
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: | Contingent interest notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $457,000
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Maturity: | Aug. 22, 2025
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Coupon: | 7.55% annual rate, payable semiannually if both indexes close above interest barriers on related observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 70% trigger value, par; 1% loss for every 1% that worst performing index declines if it finishes below its trigger value
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Initial levels: | 1,957.346 for Russell, 4,228.48 for S&P
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Interest barrier values: | 1,370.1422 for Russell, 2,959.936 for S&P, 70% of initial levels
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Trigger values: | 1,370.1422 for Russell, 2,959.936 for S&P, 70% of initial levels
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Pricing date: | Aug. 19, 2022
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Settlement date: | Aug. 24, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.5%
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Cusip: | 48133LC26
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