Published on 11/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $990,000 10.5% autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Nov. 29 – JPMorgan Chase Financial Co. LLC priced $990,000 of autocallable contingent interest notes due Oct. 17, 2024 linked to 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 10.5%, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically if the level of each underlying index is greater than or equal to its initial level on a quarterly review date.
At maturity the payout will be par unless the worst performing index closes below its 70% trigger level in which case 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 contingent interest notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $990,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 10.5%, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
|
| Call: | Automatically if the level of each underlying index is greater than or equal to its initial level on a quarterly review date
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| Initial levels: | 13,079.52 for Nasdaq, 1,781.154 for Russell, 4,137.64 for S&P
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| Trigger levels: | 9,155.664 for Nasdaq, 1,246.8078 for Russell, 2,896.348 for S&P, 70% of initial level
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| Pricing date: | April 14, 2023
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| Settlement date: | April 19, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45202%
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| Cusip: | 48133VTX8
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