Published on 4/5/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.13 million dual directional accelerated barrier notes on indexes
By Kiku Steinfeld
Chicago, April 5 – JPMorgan Chase Financial Co. LLC priced $1.13 million of 0% uncapped dual directional accelerated barrier notes due Jan. 12, 2026 linked to the Dow Jones industrial average, 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 at maturity will be par plus 109.2% of the return of the worst performing index.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but finishes at or above the 70% barrier.
Investors will lose 1% for every 1% that the worst performing index declines if it ends below the 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 dual directional accelerated barrier notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,134,000
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| Maturity: | Jan. 12, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains par plus 109.2% of worst performing index return; par plus absolute value of worst performing index return if worst performing index declines but finishes above 70% barrier; 1% loss for every 1% that worst performing index declines if it finishes below barrier
|
| Initial levels: | 33,734.88 for Dow Jones industrial average, 1,864.664 for Russell 2000, 4,398.95 for S&P 500
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| Upside leverage: | 109.2%
|
| Cap: | None
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| Barriers: | 23,614.416 for Dow Jones industrial average, 1,305.2648 for Russell 2000, 3,079.265 for S&P 500, 70% of initial level
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| Pricing date: | July 7, 2023
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| Settlement date: | July 12, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.7%
|
| Cusip: | 48133YBV5
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