Published on 2/7/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $549,000 autocallable barrier notes linked to Russell, S&P
Chicago, Feb. 7 – JPMorgan Chase Financial Co. LLC priced $549,000 of 0% autocallable barrier notes due May 23, 2028 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.
The notes will be called automatically starting May 28, 2024 and on any subsequent annual review date at a premium of 10.05% per year if the worst performing index closes above its initial value on the successive determination dates.
If the worst performing index gains the payout will be par plus the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.
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 barrier notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $549,000
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| Maturity: | May 23, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus worst performing index return; if worst performing index declines but 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: | Automatically starting May 28, 2024 and on any subsequent annual review date at a premium of 10.05% per year if the worst performing index closes above its initial value on the successive determination dates
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| Initial levels: | 1,784.856 for Russell, 4,198.05 for S&P
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| Downside threshold levels: | 1,249.3992 for Russell, 2,938.635 for S&P, 70% 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: | 4.125%
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| Cusip: | 48133WPY8
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