Published on 8/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 buffered digital dual directional notes on S&P, Russell
By Kiku Steinfeld
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $250,000 of 0% digital dual directional buffered notes due Feb. 29, 2028 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above initial levels, the payout at maturity will be par plus 62%.
If any index declines up to 10%, the payout at maturity will be par plus the absolute value of the worst performer’s return.
If any index finishes below its initial index level by more than 10%, investors will lose 1% for every 1% that the worst performer 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 dual directional buffered notes
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Underlying indexes: | Russell 2000 index, S&P 500 index
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Amount: | $250,000
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Maturity: | Feb. 29, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above initial levels, par plus 62%; if any index finishes below its initial level by up to 10%, par plus the absolute value of the worst performer’s return; if any index finishes below its initial level by more than 10%, 1% loss for every 1% that the worst performer declines beyond 10%
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Initial levels: | 1,890.485 for Russell, 3,970.04 for S&P
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Buffer levels: | 90% of initial level
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Pricing date: | Feb. 24, 2023
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Settlement date: | March 1, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.55%
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Cusip: | 48133UJL7
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