Published on 10/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 7.5% callable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Oct. 13 – JPMorgan Chase Financial Co. LLC priced $500,000 of callable contingent interest notes due March 28, 2024 linked to the Russell 1000 Growth index, Russell 2000 Value index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
If the worst performing index gains or ends above its 70% buffer level, the payout at maturity will be par plus any coupon. Investors will lose 1.42857 for every 1% that the worst performing index declines beyond 30%.
The securities may be called starting Sept. 28, 2023 at par on a monthly 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: | Russell 1000 Growth index, Russell 2000 Value index and S&P 500 index
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| Amount: | $500,000
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| Maturity: | March 28, 2024
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| Coupon: | 7.5%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its buffer level, par plus any coupon; 1.42857% loss for every 1% that worst performing index declines beyond 30%
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| Call: | Starting Sept. 28, 2023 at par and on any subsequent monthly review date
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| Initial levels: | 2,383.648 for Russell Growth, 1,989.143 for Russell Value, 3,970.99 for S&P
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| Buffer levels: | 70% of initial levels
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| Coupon barrier levels: | 1,787.736 for Russell Growth, 1,491.85725 for Russell Value, 2,978.2425 for S&P, 75% of initial levels
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| Pricing date: | March 24, 2023
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| Settlement date: | March 29, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.3%
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| Cusip: | 48133VFB1
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