Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $129,000 capped lookback notes on S&P 500
By Kiku Steinfeld
Chicago, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $129,000 of 0% capped lookback notes due May 1, 2025 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.
The initial index level, or the lookback level, will be the lowest closing level of the index during the period from the pricing date of April 28, 2023 to and July 28, 2023 and will not be greater than the closing level on the pricing date, 4,169.48.
If the final index level is greater than the lookback level, the payout at maturity will be par plus the index gain, capped at 13%. Otherwise, investors will receive par.
Otherwise, investors will receive par.
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: | Capped lookback notes
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Underlying index: | S&P 500
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Amount: | $129,000
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Maturity: | May 1, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than the lookback level, par plus index gain, capped at 13%; otherwise, par
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Lookback level: | Lowest closing level of the index on any trading day from pricing date to and including July 28, 2023, not to exceed the 4,169.48 closing level on the pricing date
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Pricing date: | April 28, 2023
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Settlement date: | May 3, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.35%
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Cusip: | 48133VA83
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