Published on 8/16/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $609,000 review notes linked to Nasdaq, Russell, S&P
Chicago, Aug. 16 – JPMorgan Chase Financial Co. LLC priced $609,000 of 0% review notes due July 24, 2025 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting Jan. 20, 2023 and on any subsequent semiannual review date at a premium of 14.25% per year if the worst performing index closes above its initial value on the successive determination dates.
At maturity, the payout will be par plus the 42.75% call premium if all indexes close above their initial levels.
If the worst performing index ends above its 70% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the downside threshold level.
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: | Review notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $609,000
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| Maturity: | July 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 42.75% call premium if all three indexes finish above starting levels; 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
|
| Call: | Automatically starting Jan. 20, 2023 and on any subsequent semiannual review date at a premium of 14.25% per year if the worst performing index closes above its initial value on the successive determination dates
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| Initial levels: | 12,439.68 for Nasdaq, 1,827.948 for Russell, 3,959.90 for S&P
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| Downside thresholds: | 8,707.776 for Nasdaq, 1,279.5636 for Russell, 2,771.93 for S&P, 70% of initial levels
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| Pricing date: | July 20, 2022
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| Settlement date: | July 25, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48133LLS9
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