New Issue: JPMorgan sells $42,000 bearish knock-out notes due 2024 on S&P 500

By Kiku Steinfeld

Chicago, Nov. 2 – JPMorgan Chase Financial Co. LLC priced $42,000 of 0% bearish knock-out notes due April 12, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the index ends below its initial level but at or above the knock-out level of 80%, the payout at maturity will be par plus the absolute value of the index return. If the index falls by less than 20%, the payout will be par plus 12.25%. If the index gains or is flat the payout will be par.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Bearish knock-out notes
Underlying index:	S&P 500 index
Amount:	$42,000
Maturity:	April 12, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index ends below initial level but at or above knock-out level, par plus absolute value of the index return; if index falls by more than 20%, par plus 12.25%; if index gains or is flat, par
Initial level:	4,109.31
Knock-out level:	3,287.448, 80% of initial level
Pricing date:	March 31, 2023
Settlement date:	April 5, 2023
Agent:	J.P. Morgan Securities LLC
Fees:	0.5%
Cusip:	48133UQV7

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