Published on 7/26/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million 8.5% callable contingent interest notes on indexes
New York, July 26 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due July 23, 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.
Investors will receive a coupon of 8.5%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
If the worst performing index gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The securities may be called starting Jan. 25, 2024 and on any subsequent monthly review date.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,004,000
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Maturity: | July 23, 2026
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Coupon: | 8.5%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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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; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | Starting Jan. 25, 2024 and on any subsequent monthly review date
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Initial levels: | 15,466.09 for Nasdaq-100, 1,967.160 for Russell 2000, 4,534.87 for S&P 500
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Downside thresholds: | 9,279.654 for Nasdaq-100, 1,180.296 for Russell 2000, 2,720.922 for S&P 500, 60% of initial level
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Coupon barriers: | 10,826.263 for Nasdaq-100, 1,377.012 for Russell 2000, 3,174.409 for S&P 500, 70% of initial levels
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Pricing date: | July 20
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Settlement date: | July 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.85986%
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Cusip: | 48133YKM5
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