Published on 10/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $551,000 8.5% callable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Oct. 20 – JPMorgan Chase Financial Co. LLC priced $551,000 of callable contingent interest notes due Oct. 3, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly 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 at par on any quarterly 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $551,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 8.5%, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly 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 on any quarterly review date
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| Initial levels: | 12,610.57 for Nasdaq, 1,752.632 for Russell, 3,971.27 for S&P
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| Downside thresholds: | 8,827.399 for Nasdaq, 1,226.8424 for Russell, 2,779.889 for S&P, 70% of initial level
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| Pricing date: | March 28, 2023
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| Settlement date: | March 31, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.07214%
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| Cusip: | 48133VEB2
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