Published on 2/3/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $370,000 7.5% callable contingent interest notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $370,000 of callable contingent interest notes due March 21, 2028 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 7.5%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
If the worst performing index gains or ends above its 60% 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 21, 2024 at par on any monthly 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $370,000
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Maturity: | March 21, 2028
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Coupon: | 7.5%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly 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 21, 2024 at par on any monthly review date
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Initial levels: | 15,083.92 for Nasdaq, 1,875.467 for Russell, 4,409.59 for S&P
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Downside thresholds: | 9,050.352 for Nasdaq, 1,125.2802 for Russell, 2,645.754 for S&P, 60% of initial level
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Coupon barriers: | 10,558.744 for Nasdaq, 1,312.8269 for Russell, 3,086.713 for S&P, 70% of initial levels
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Pricing date: | June 16, 2023
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Settlement date: | June 22, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.7%
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Cusip: | 48133XTE6
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