Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.24 million 9.25% callable contingent interest notes on indexes
New York, Oct. 12 – JPMorgan Chase Financial Co. LLC priced $2.24 million of callable contingent interest notes due Sept. 11, 2025 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The securities may be called starting Jan. 11, 2024 at par on any monthly review date.
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 contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $2,244,000
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| Maturity: | Sept. 11, 2025
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| Coupon: | 9.25%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | Starting Jan. 11, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 33,407.58 for Dow Jones industrial average, 14,973.24 for Nasdaq-100, 1,745.558 for Russell 2000
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| Downside thresholds: | 23,385.306 for Dow Jones industrial average, 10,481.268 for Nasdaq-100, 1,221.8906 for Russell 2000, 70% of initial level
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| Pricing date: | Oct. 6
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| Settlement date: | Oct. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48134BMJ9
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