Published on 2/8/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $560,000 6.3% callable contingent interest notes linked to S&P
Chicago, Feb. 8 – JPMorgan Chase Financial Co. LLC priced $560,000 of callable contingent interest notes due Nov. 22, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.3%, paid monthly, if the underlying index closes at or above its 60% trigger level on the related monthly observation date.
The securities may be called starting Nov. 24, 2023 at par and on any subsequent monthly review date.
If the 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 index declines if it finishes below its downside threshold 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: | Callable contingent interest notes
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| Underlying index: | S&P 500 index
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| Amount: | $560,000
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| Maturity: | Nov. 22, 2024
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| Coupon: | 6.3% annual rate, paid monthly, if the underlying index closes at or above its 60% trigger level on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If index finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
|
| Call: | Starting Nov. 24, 2023 at par and on any subsequent monthly review date
|
| Initial level: | 4,191.98
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| Downside threshold: | 2,515.188, 60% of initial level
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| Pricing date: | May 19, 2023
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| Settlement date: | May 24, 2023
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| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.35%
|
| Cusip: | 48133WPA0
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