Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $295,000 6.6% contingent interest notes linked to Russell, S&P
Chicago, Feb. 7 – JPMorgan Chase Financial Co. LLC priced $295,000 of contingent interest notes due May 21, 2026 linked to the lesser performing of the 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 6.6%, paid monthly, if each underlying index closes at or above its 65% trigger level on the related monthly observation date.
If the worst performing index gains or ends above its 65% trigger value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its trigger value.
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: | Contingent interest notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $295,000
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Maturity: | May 21, 2026
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Coupon: | 6.6% annual rate, paid monthly, if each underlying index closes at or above its 65% trigger level 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 65% trigger value, par; 1% loss for every 1% that worst performing index declines if it finishes below its trigger value
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Initial levels: | 1,784.856 for Russell, 4,198.05 for S&P
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Trigger values: | 1,160.1564 for Russell, 2,728.7325 for S&P, 65% of initial levels
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Pricing date: | May 18, 2023
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Settlement date: | May 23, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.95%
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Cusip: | 48133WSJ8
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