Published on 12/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.37 million 9.15% callable contingent interest notes on indexes
New York, Dec. 29 – JPMorgan Chase Financial Co. LLC priced $2.37 million of callable contingent interest notes due Dec. 27, 2027 linked to the Dow Jones industrial average, 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 9.15%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
If the worst performing index gains or ends above its 65% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The securities may be called starting June 26, 2024 at par and on any subsequent quarterly 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $2,366,000
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Maturity: | Dec. 27, 2027
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Coupon: | 9.15%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | Starting June 26, 2024 at par and on any subsequent quarterly review date
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Initial levels: | 37,404.35 for Dow Jones industrial average, 2,017.065 for Russell 2000, 4,746.75 for S&P 500
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Downside thresholds: | 24,312.8275 for Dow Jones industrial average, 1,311.09225 for Russell 2000, 3,085.3875 for S&P 500, 65% of initial level
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Coupon barriers: | 28,053.2625 for Dow Jones industrial average, 1,512.79875 for Russell 2000, 3,560.0625 for S&P 500, 75% of initial levels
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Pricing date: | Dec. 21
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Settlement date: | Dec. 27
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48134RD21
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