Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.63 million autocallable contingent interest notes on three indexes
New York, Oct. 2 – JPMorgan Chase Financial Co. LLC priced $3.63 million of autocallable contingent interest notes due Oct. 1, 2026 linked to the Nasdaq-100 Technology Sector index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly review date starting Sept. 26, 2024.
At maturity, the payout will be par unless the worst performing index finishes below its 60% trigger 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.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Autocallable contingent interest notes
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Underlying indexes: | Nasdaq-100 Technology Sector index, Russell 2000 index and S&P 500 index
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Amount: | $3,634,000
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Maturity: | Oct. 1, 2026
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Coupon: | 8%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly review date starting Sept. 26, 2024
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Initial levels: | 7,753.67 for Nasdaq-100 Technology Sector, 1,761.609 for Russell 2000, 4,273.53 for S&P 500
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Trigger levels: | 4,652.202 for Nasdaq-100 Technology Sector, 1,056.9654 for Russell 2000, 2,564.118 for S&P 500, 60% of initial levels
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Coupon barriers: | 5,427.569 for Nasdaq-100 Technology Sector, 1,233.1263 for Russell 2000, 2,991.471 for S&P 500, 70% of initial levels
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Pricing date: | Sept. 26
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Settlement date: | Sept. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.95%
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Cusip: | 48134A4H5
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