Published on 10/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $7.53 million 11.33% callable yield notes linked to indexes
Chicago, Oct. 20 – JPMorgan Chase Financial Co. LLC priced $7.53 million of 11.33% callable yield notes due Oct. 17, 2024 linked to the least performing of 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 will be paid monthly.
The notes may be called on any monthly interest payment date starting April 18, 2024 at par.
The payout at maturity will be par if the worst performing index finishes at or above its initial level or no index closes below the 70% trigger level during the life of the notes . Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the trigger 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: | $7,533,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 11.33%, paid monthly
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| Price: | Par
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| Payout at maturity: | Par if all three indexes finish positive or no index closes below trigger level during life of notes; otherwise, 1% loss for every 1% that worst performing index declines
|
| Call: | On any monthly interest payment date starting April 18, 2024 at par
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| Initial levels: | 33,670.29 for Dow, 1,719.711 for Russell, 4,327.78 for S&P
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| Trigger levels: | 23,569.203 for Dow, 1,203.7977 for Russell, 3,029.446 for S&P, 70% of initial levels
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
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| Cusip: | 48134BQS5
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