Published on 3/31/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.38 million callable contingent interest notes on three indexes
New York, March 31 – JPMorgan Chase Financial Co. LLC priced $1.38 million of callable contingent interest notes due Dec. 30, 2024 linked to the Russell 1000 Growth index, the Russell 2000 Value index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities may be called at par on any monthly review date starting March 28, 2024.
Investors will receive a coupon of 9%, paid monthly, if each underlying index closes at or above its 75% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
If the worst performing index finishes at or above its 75% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1.33333% for every 1% that the worst performing index declines beyond 25%.
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: | Callable contingent interest notes
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| Underlying indexes: | Russell 1000 Growth index, Russell 2000 Value index and S&P 500 index
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| Amount: | $1.38 million
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| Maturity: | Dec. 30, 2024
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| Coupon: | 9%, paid monthly, if each underlying index closes at or above its 75% downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1.33333% loss for every 1% that worst performing index declines beyond 25%
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| Call option: | At par on any monthly review date starting March 28, 2024
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| Initial levels: | 2,383.648 for Russell 1000 Growth, 1,989.143 for Russell 2000 Value, 3,970.99 for S&P 500
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| Downside thresholds: | 1,787.736 for Russell 1000 Growth, 1,491.85725 for Russell 2000 Value, 2,978.2425 for S&P 500, 75% of initial level
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.3%
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| Cusip: | 48133VEF3
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