Published on 6/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $113,000 capped lookback notes on S&P 500
By Kiku Steinfeld
Chicago, June 14 – JPMorgan Chase Financial Co. LLC priced $113,000 of 0% capped lookback notes due July 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The initial level – or the lookback value –will be the lowest closing level of the index on the lookback observation dates, not to exceed the closing index level of 4,060.43 on the pricing date. The lookback observation dates will be Jan. 26, 2023, Feb. 2, 2023, Feb. 9, 2023, Feb. 16, 2023, Feb. 23, 2023, March 2, 2023, March 9, 2023, March 16, 2023 and March 23, 2023.
If the final index level is greater than the initial level – the lookback value – the payout at maturity will be par plus the index gain, up to a maximum return of 8.75%. Otherwise, investors will receive par.
Otherwise, investors will receive par.
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: | Capped lookback notes
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| Underlying index: | S&P 500
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| Amount: | $113,000
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| Maturity: | July 31, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than the initial level, or lookback value, par plus the index gain, capped at 8.75%; otherwise, par
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| Initial level: | Lowest closing level of the index on the lookback observation dates, not to exceed the closing index level of 4,060.43 on the pricing date; lookback observation dates will be Jan. 26, 2023, Feb. 2, 2023, Feb. 9, 2023, Feb. 16, 2023, Feb. 23, 2023, March 2, 2023, March 9, 2023, March 16, 2023 and March 23, 2023
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.21681%
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| Cusip: | 48133TNW1
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