Published on 11/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $190,000 review notes linked to fund, Russell
Chicago, Nov. 27 – JPMorgan Chase Financial Co. LLC priced $190,000 of 0% review notes due Oct. 26, 2026 linked to the lesser performing of the Financial Select Sector SPDR Fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting Oct. 24, 2023 and on any subsequent annual review date at a premium of 16.7% per year if the worst performing asset closes above its initial value on the successive determination dates.
If both assets close above their initial levels, the payout at maturity will be par plus the 66.8% final call premium.
If the worst performing asset declines but ends above its 70% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing asset 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Review notes
|
| Underlying assets: | Financial Select Sector SPDR Fund and Russell 2000 index
|
| Amount: | $190,000
|
| Maturity: | Oct. 26, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 66.8% if called; if worst performing asset declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
|
| Call: | Automatically starting Oct. 24, 2023 and on any subsequent annual review date at a premium of 16.7% per year if the worst performing asset closes above its initial value on the successive determination dates
|
| Initial levels: | $32.19 for Fund, 1,742.238 for Russell
|
| Downside thresholds: | $22.533 for Fund, 1,219.5666 for Russell, 70% of initial levels
|
| Pricing date: | Oct. 21, 2022
|
| Settlement date: | Oct. 26, 2022
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0%
|
| Cusip: | 48133NQE1
|
|
|
© 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.
