Published on 10/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.36 million callable contingent interest notes linked to Russell, S&P
New York, Oct. 27 – JPMorgan Chase Financial Co. LLC priced $2.36 million of callable contingent interest notes due Jan. 24, 2025 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 9.9%, paid monthly, if each index closes at or above its 75% downside threshold on the relevant observation date.
The securities may be called at par on any monthly determination date starting April 25, 2024.
If the worst performing index finishes at or above its 75% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial 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 contingent interest notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $2,359,000
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| Maturity: | Jan. 24, 2025
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| Coupon: | 9.9%, paid monthly, if each index closes at or above its 75% downside threshold on the relevant 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any monthly determination date starting April 25, 2024
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| Initial levels: | 1,680.792 for Russell 2000, 4,224.16 for S&P 500
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| Downside thresholds: | 1,260.594 for Russell 2000, 3,168.12 for S&P 500, 75% of initial level
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48134BMS9
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