Published on 10/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $820,000 10% callable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Oct. 13 – JPMorgan Chase Financial Co. LLC priced $820,000 of callable contingent interest notes due Sept. 27, 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 10%, 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 75% buffer level the payout at maturity will be par plus the coupon. Investors will lose 1.33333% for every 1% that the worst performing index declines if it finishes below its buffer level.
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: | $820,000
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| Maturity: | Sept. 27, 2024
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| Coupon: | 10%, paid monthly, if each underlying index closes at or above 75% 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; 1.33333% loss for every 1% that worst performing index declines if it finishes below its buffer level
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| Call: | Starting Sept. 28, 2023 at par on a 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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| Coupon barrier/buffer levels: | 1,787.736 for Russell Growth, 1,491.85725 for Russell Value, 2,978.2425 for S&P, 75% of initial level
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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: | 48133VEG1
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