Published on 10/25/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $598,000 10.5% autocallable yield notes linked to Russell, S&P
By Kiku Steinfeld
Chicago, Oct. 25 – JPMorgan Chase Financial Co. LLC priced $598,000 of autocallable yield notes due July 5, 2024 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5% per year, paid quarterly.
The securities will be called at par if each index closes at or above its initial level on April 1, 2024.
At maturity the payout will be par if all of the indexes never close below the 75% trigger level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing index.
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: | Autocallable yield notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $598,000
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| Maturity: | July 5, 2024
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| Coupon: | 10.5%, paid quarterly
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| Price: | Par
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| Payout at maturity: | Par if all of the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically at par if each index closes at or above its initial level on April 1, 2024
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| Initial levels: | 1,771.599 for Russell, 4,027.81 for S&P
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| Trigger levels: | 1,328.69925 for Russell, 3,020.8575 for S&P, 75% of initial level
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| Pricing date: | March 29, 2023
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| Settlement date: | April 3, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133VBS8
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