Published on 10/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.62 million review notes linked to Dow, Nasdaq, Russell
Chicago, Oct. 23 – JPMorgan Chase Financial Co. LLC priced $1.62 million of 0% review notes due April 21, 2027 linked to the least performing of the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting Oct. 21, 2024 and on any subsequent semiannual review date at a premium of 14.25% per year if the worst performing index closes above its initial value on the successive determination dates.
The maturity date premium is 49.875%.
If notes have not been called and the worst performing index ends above its 70% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the downside threshold 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: | Review notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1.62 million
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| Maturity: | April 21, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If called, par plus 49.875%; if not called and 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: | Automatically starting Oct. 21, 2024 and on any subsequent semiannual review date at a premium of 14.25% per year if the worst performing index closes above its initial value on the successive determination dates
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| Initial levels: | 33,984.54 for Dow, 15,172.73 for Nasdaq, 1,747.061 for Russell
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| Downside thresholds: | 23,789.178 for Dow, 10,620.911 for Nasdaq, 1,222.9427 for Russell, 70% of initial levels
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48134BVA8
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