Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 review notes linked to Russell, S&P, ETF
Chicago, Aug. 29 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% review notes due Aug. 26, 2027 linked to the least performing of the Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting Aug. 23, 2023 and on any subsequent semiannual review date at a premium of 10.5% per year if the worst performing asset closes above 80% of its initial value on the successive determination dates.
If the worst performing asset ends above its 80% call value, the payout at maturity will be par plus the 52.5% call premium. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below the downside threshold 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: | Review notes
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| Underlying assets: | Russell 2000 index, S&P 500 index and iShares Russell 2000 Value ETF
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| Amount: | $500,000
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| Maturity: | Aug. 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its call value, par plus 52.5% premium; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Automatically starting Aug. 23, 2023 and on any subsequent semiannual review date at a premium of 10.5% per year if the worst performing asset closes above 80% of its initial value on the successive determination dates
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| Initial levels: | 1,915.743 for Russell, 4,137.99 for S&P, $150.78 for ETF
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| Call values: | 1,532.5944 for Russell, 3,310.392 for S&P, $120.624 for ETF, 80% of initial levels
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| Pricing date: | Aug. 22, 2022
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| Settlement date: | Aug. 25, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48133L2F8
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