Published on 8/8/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $20.08 million digital equity notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – JPMorgan Chase Financial Co. LLC priced $20.08 million of 0% digital equity notes due May 12, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to 90% of the initial index level, the payout at maturity will be $1,170.40 for each $1,000 principal amount of notes. Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
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: | Digital equity notes
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Underlying indexes: | S&P 500 index
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Amount: | $27,075,000
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Maturity: | May 12, 2025
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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 or equal to 90% of initial index level, $1,170.40 for each $1,000 principal amount of notes; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
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Initial level: | 4,501.89
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Buffer level: | 90% of initial level
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Pricing date: | Aug. 3
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Settlement date: | Aug. 10
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.29%
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Cusip: | 48133YRS5
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