Published on 9/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 7% callable yield notes linked to Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $500,000 of 7% callable yield notes due Sept. 19, 2025 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes may be called starting Sept. 21, 2023 at par on any quarterly observation date.
The payout at maturity will be par if the worst performing index finishes at or above its 75% buffer level. Investors will lose 1% for every 1% that the worst performing index declines below the buffer 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: | Callable yield notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $500,000
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Maturity: | Sept. 19, 2025
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Coupon: | 7%, paid quarterly
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Price: | Par
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Payout at maturity: | Par if worst performing index finishes at or above its buffer value; otherwise 1% loss for every 1% that worst performing index declines below buffer level
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Initial levels: | 32,246.55 for Dow, 1,771.237 for Russell, 3,960.28 for S&P
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Buffer levels: | 75% of initial levels
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Call: | Starting Sept. 21, 2023 at par on any quarterly observation date
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Pricing date: | March 16, 2023
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Settlement date: | March 21, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48133VCF5
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