Published on 3/31/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $480,000 autocallable accelerated barrier notes on indexes
By Kiku Steinfeld
Chicago, April 1 – JPMorgan Chase Financial Co. LLC priced $480,000 of 0% autocallable accelerated barrier notes due July 6, 2026 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.
If the worst performing index gains the payout will be par plus 200% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.
The notes will be called automatically on July 2, 2024 at a premium of 16.5% if the worst performing index closes above 100% of its initial value.
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 accelerated barrier notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $480,000
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| Maturity: | July 6, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 200% of worst performing index return; if worst performing index declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Initial level: | 15,179.21 for Nasdaq-100, 1,888.734 for Russell 2000, 4,450.38 for S&P 500
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| Upside leverage: | 200%
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| Downside threshold: | 10,625.447 for Nasdaq-100, 1,322.1138 for Russell 2000, 3,115.266 for S&P 500, 70% of initial level
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| Call: | Automatically on July 2, 2024 at a premium of 16.5% if the worst performing index closes above 100% of its initial value
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.505%
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| Cusip: | 48133XFM3
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