Published on 9/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.03 million contingent income autocallables linked to indexes
New York, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $3.03 million of contingent income autocallable securities due Sept. 25, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.9% on a quarterly basis if each index closes at or above 75% of its initial level on the related observation date.
The securities will be called automatically starting Dec. 22 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing index closes below its 75% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley will act as distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $3,026,000
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| Maturity: | Sept. 25, 2025
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| Coupon: | 8.9%, payable quarterly if each index finishes at or above downside threshold on observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting Dec. 22 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly review date
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| Initial levels: | 14,701.10 for Nasdaq-100 Index, 1,776.503 for Russell 2000 Index, 4,320.06 for S&P 500 Index
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| Downside thresholds: | 11,025.825 for Nasdaq-100 Index, 1,332.37725 for Russell 2000 Index, 3,240.045 for S&P 500 Index, 75% of initial level
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 48134AX83
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