Published on 10/19/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.7 million autocallable contingent interest notes on Russell, S&P
New York, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $1.70 million of autocallable contingent interest notes due Jan. 3, 2025 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlying index closes at or above its 75% trigger level on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly review date starting April 1, 2024.
If the notes have not been called, the payout at maturity will be par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial 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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $1,702,000
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| Maturity: | Jan. 3, 2025
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| Coupon: | 10.5%, paid monthly, if each underlying index closes at or above its 75% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless either index closes below its trigger value during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
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| Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any monthly review date starting April 1, 2024
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| Initial levels: | 1,785.102 for Russell 2000, 4,288.05 for S&P 500
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| Trigger levels: | 1,338.8265 for Russell 2000, 3,216.0375 for S&P 500, 75% of initial level
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48134A3J2
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