Published on 10/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.05 million 8.25% autocallable contingent interest notes on indexes
Chicago, Oct. 23 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due April 22, 2025 linked to the least performing of 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 8.25% if the worst performing index closes at or above its 70% interest barrier level on the related valuation date.
The securities will be called automatically at par starting Jan. 16, 2024 and on any subsequent quarterly review date if all three indexes close above their initial levels.
At maturity the payout will be par if all three indexes finish above their 60% trigger levels. Otherwise, investors will be fully exposed to the losses of the worst performer.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,051,000
|
| Maturity: | April 22, 2025
|
| Coupon: | 8.25% annual rate, if the worst performing index closes at or above its 70% interest barrier level on the related valuation date
|
| Price: | Par
|
| Payout at maturity: | Par if all three indexes close above trigger levels; otherwise, full exposure to losses of worst performer
|
| Call: | Automatically at par starting Jan. 16, 2024 and on any subsequent quarterly review date if all three indexes close above initial levels
|
| Initial levels: | 15,172.73 for Nasdaq, 1,747.061 for Russell, 4,373.63 for S&P
|
| Interest barrier levels: | 10,620.911 for Nasdaq, 1,222.9427 for Russell, 3,061.541 for S&P; 70% of initial levels
|
| Trigger levels: | 10,620.911 for Nasdaq, 1,222.9427 for Russell, 3,061.541 for S&P; 70% of initial levels
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 19
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.51299%
|
| Cusip: | 48134BAF0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
