New Issue: JPMorgan prices $20,000 capped monthly observation notes linked to S&P 500

By Kiku Steinfeld

Chicago, June 27 – JPMorgan Chase Financial Co. LLC priced $20,000 of 0% capped monthly observation notes due Feb. 5, 2024 linked to the S&P 500 index, according to a 424B8 filing with the Securities and Exchange Commission.

The payout at maturity will be based on the sum of each monthly index return for each of 12 monthly observation periods, capped at a 2.25% gain per month, with a minimum payout at maturity of par plus 1%. Any monthly gain will be capped, but any monthly loss of the index will be uncapped. As a result, a decline of the index return for one or more monthly observation periods may offset the capped increases of the index in other monthly periods, limiting the return on the notes at maturity.

The notes are guaranteed by JPMorgan Chase & Co.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Capped monthly observation notes
Underlying index:	S&P 500 index
Amount:	$20,000
Maturity:	Feb. 5, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Sum of monthly capped index returns over 12 monthly observation periods, cap is 2.25% per month, with minimum payout at maturity of par plus 1%; monthly gains are capped but monthly losses are uncapped; a decline of the index return for one or more monthly observation periods may offset the capped increases of the index in other monthly periods
Initial level:	4,076.60
Pricing date:	Jan. 31, 2023
Settlement date:	Feb. 3, 2023
Agent:	J.P. Morgan Securities LLC
Fees:	0.5%
Cusip:	48133TPG4

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.