Published on 11/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $492,000 9.5% autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, Nov. 1 – JPMorgan Chase Financial Co. LLC priced $492,000 of autocallable contingent interest notes due Oct. 3, 2024 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5% per year, paid quarterly, if the worst performing index closes at or above its 70% trigger level on the related valuation date.
The securities will be called automatically starting Oct. 2, 2023 on any quarterly review date if each index closes above its initial level.
At maturity the payout will be par unless any index closes below its trigger leve,, in which chase investors will be exposed to the losses of the least performing index.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $492,000
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Maturity: | Oct. 3, 2024
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Coupon: | 9.5% per year, paid quarterly, if the worst performing index closes at or above its trigger level on the related valuation date
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Price: | Par
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Payout at maturity: | Par unless any index closes below its trigger level, in which chase investors will be exposed to the losses of the least performing index.
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Call: | Automatically starting Oct. 2, 2023 on any quarterly review date if each index closes above its initial level
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Initial levels: | 13,181.35 for Nasdaq, 1,802.484 for Russell, 4,109.31 for S&P
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Barrier levels: | 9,226.945 for Nasdaq, 1,261.7388 for Russell, 2,876.517 for S&P, 70% of initial levels
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Pricing date: | March 31, 2023
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Settlement date: | April 5, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.35%
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Cusip: | 48133UMR0
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