Published on 9/22/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 7.75% callable contingent interest notes linked to Dow, S&P
New York, Sept. 22 – JPMorgan Chase Financial Co. LLC priced $500,000 of callable contingent interest notes due Aug. 31, 2027 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75%, paid quarterly, if each underlying index closes at or above its 60% trigger level on the related quarterly 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 March 2, 2023 at par and on any subsequent quarterly 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: | Dow Jones industrial average and S&P 500 index
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Amount: | $500,000
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Maturity: | Aug. 31, 2027
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Coupon: | 7.75%, paid quarterly, if each underlying index closes at or above its 60% trigger level on the related quarterly 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 March 2, 2023 at par and on any subsequent quarterly review date
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Initial levels: | 32,283.40 for Dow Jones industrial average, 4,057.66 for S&P 500
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Downside thresholds: | 19,370.04 for Dow Jones industrial average, 2,434,596 for S&P 500, 60% of initial level
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Pricing date: | Sept. 6, 2022
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Settlement date: | Sept. 9, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.1%
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Cusip: | 48133MWT3
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