Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $257,000 5.8% autocallable contingent interest notes on Dow, Nasdaq, S&P
By Kiku Steinfeld
Chicago, Nov. 7 – JPMorgan Chase Financial Co. LLC priced $257,000 of autocallable contingent interest notes due April 9, 2026 linked to the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.8%, paid monthly, if each underlying index closes at or above its 80% downside threshold on the related monthly observation date.
The securities will be called automatically starting Oct. 5, 2023 at par if the level of each underlying index is greater than or equal to its initial level on a monthly review date.
At maturity the payout will be par unless the worst performing index declines by more than its 20% buffer in which case investors will be exposed to the decline of the worst performing index beyond the buffer.
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: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $257,000
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| Maturity: | April 9, 2026
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| Coupon: | 5.8%, paid monthly, if each underlying index closes at or above its 80% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index declines by more than its buffer in which case investors will be exposed to the decline in the worst performing index beyond the buffer
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| Call: | Automatically starting Oct. 5, 2023 at par if the level of each underlying index is greater than or equal to its initial level on a monthly review date
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| Initial levels: | 33,482.72 for Dow, 12,967.20 for Nasdaq, 4,090.38 for S&P
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| Buffer levels: | 26,786.176 for Dow, 10,373.76 for Nasdaq, 3,272.304 for S&P, 80% of initial levels
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| Pricing date: | April 5, 2023
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| Settlement date: | April 11, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48133VRR3
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