Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.71 million callable contingent interest notes on three indexes
New York, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $1.71 million of callable contingent interest notes due Sept. 4, 2025 linked to the Dow Jones industrial average, the Nasdaq-100 Technology Sector index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting Jan. 4, 2024.
If the worst performing index finishes at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial 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 contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 Technology Sector index and Russell 2000 index
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| Amount: | $1,705,000
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| Maturity: | Sept. 4, 2025
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| Coupon: | 10%, 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: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any monthly review date starting Jan. 4, 2024
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| Initial levels: | 33,507.50 for Dow Jones industrial average, 7,939.24 for Nasdaq-100 Technology Sector, 1,785.102 for Russell 2000
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| Downside thresholds: | 20,104.50 for Dow Jones industrial average, 4,763.544 for Nasdaq-100 Technology Sector, 1,071.0612 for Russell 2000, 60% of initial levels
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| Coupon barriers: | 23,455.25 for Dow Jones industrial average, 5,557.468 for Nasdaq-100 Technology Sector, 1,249.5714 for Russell 2000, 70% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.69289%
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| Cusip: | 48134A4Y8
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