Published on 8/31/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.01 million bearish autocallable contingent interest notes on indexes
By William Gullotti
Buffalo, N.Y., Aug. 31 – JPMorgan Chase Financial Co. LLC priced $1.01 million of bearish autocallable contingent interest notes due Aug. 28, 2025 linked to the performance of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay contingent monthly interest at an annual rate of 12.75% if each index closes at or below its 140% interest barrier on the related review date.
The notes will be called at par plus the coupon if each index closes at or below its initial level on any monthly review date after three months.
The payout at maturity will be par plus the final coupon unless the worst performing index finishes above the 140% trigger level, in which case investors will lose 1% for each 1% gain of that index from its initial level.
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: | Bearish autocallable contingent interest notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Nasdaq-100 index
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| Amount: | $1,006,000
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| Maturity: | Aug. 28, 2025
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| Coupon: | 12.75% annual rate, payable monthly if each index closes at or below its interest barrier on the related monthly review date
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| Price: | Par
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| Payout at maturity: | Par plus the final coupon unless the worst performing index finishes above its trigger level, in which case investors will lose 1% for every 1% gain of that index above its initial level
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| Call: | Automatically at par plus the contingent interest payment if each index closes at or below its initial level on any monthly review date after three months
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| Initial levels: | 4,376.31 for S&P, 1,846.278 for Russell, 14,816.44 for Nasdaq
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| Interest barriers: | 6,126.834 for S&P, 2,584.7892 for Russell, 20,743.016 for Nasdaq; 140% of initial levels
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| Trigger levels: | 6,126.834 for S&P, 2,584.7892 for Russell, 20,743.016 for Nasdaq; 140% of initial levels
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| Pricing date: | Aug. 24
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| Settlement date: | Aug. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48134AKY0
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