Published on 8/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.25 million 10% autocallable contingent interest notes on Russell, S&P
Chicago, Aug. 2 – JPMorgan Chase Financial Co. LLC priced $6.25 million of autocallable contingent interest notes due July 30, 2024 linked to the lesser performing of the 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 10%, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically starting Oct. 25 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly review date.
At maturity the payout will be par if all of the indexes never close below the 70% trigger level during the life of the notes or the worst performing index ends above its initial level. Otherwise, investors will be fully exposed to the decline of the worst performing index.
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: | Autocallable contingent interest notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $6,251,000
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Maturity: | July 30, 2024
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Coupon: | 10% annual rate, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par if all of the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically starting Oct. 25 at par if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly review date
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Initial levels: | 1,966.112 for Russell, 4,567.46 for S&P
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Trigger levels: | 1,376.2784 for Russell, 3,197.222 for S&P, 70% of initial levels
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Pricing date: | July 25
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Settlement date: | July 28
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.725%
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Cusip: | 48133YNG5
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