Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $254,000 uncapped accelerated barrier notes on index, ETF
By Kiku Steinfeld
Chicago, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $254,000 of 0% uncapped accelerated barrier notes due April 24, 2026 linked to the Russell 2000 index and SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing asset gains the payout at maturity will be par plus 155.95% of the return of the worst performing asset. The payout will be par if the worst performing asset declines but finishes above its 70% barrier. Investors will lose 1% for every 1% that the worst performing asset declines if it closes below its barrier.
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: | Uncapped accelerated barrier notes
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Underlying assets: | Russell 2000 index and SPDR S&P Biotech ETF
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Amount: | $254,000
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Maturity: | April 24, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing asset gains par plus 155.95% of worst performing asset return; par if worst performing asset declines but finishes above its downside barrier; 1% loss for every 1% that worst performing asset declines if it finishes below its downside barrier
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Initial levels: | 1,791.506 for Russell, $82.27 for SPDR S&P Biotech ETF
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Upside leverage: | 155.95%
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Cap: | None
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Barriers: | 1,254.0542 for Russell, $57.589 for SPDR S&P Biotech ETF, 70% of initial level
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Pricing date: | April 21, 2023
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Settlement date: | April 26, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133VJ27
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