Published on 2/24/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 11.75% autocallable contingent interest notes on three indexes
By Kiku Steinfeld
Chicago, Feb. 26 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due June 25, 2026 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 11.75% per year paid quarterly if the worst performing index closes at or above its 80% coupon trigger level on the related quarterly valuation date.
The securities will be called automatically starting Dec. 22, 2023 on any quarterly review date if each index closes at or above its initial level.
At maturity the payout will be par if each index closes at or above its 70% final trigger level. Otherwise, investors will be exposed to the losses of the worst performer.
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 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: | $500,000
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| Maturity: | June 25, 2026
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| Coupon: | 11.75% per year paid quarterly if the worst performing index closes at or above 80% of initial level on the related quarterly valuation date
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| Price: | Par
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| Payout at maturity: | Par if each index closes at or above its trigger level, otherwise investors will be exposed to the losses of the worst performer
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| Call: | Automatically starting Dec. 22, 2023 on any quarterly review date if each index closes at or above its initial level
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| Initial levels: | 15,042.32 for Nasdaq, 1,848.178 for Russell, 4,381.89 for S&P
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| Coupon trigger levels: | 12,033.856 for Nasdaq, 1,478.5424 for Russell, 3,505.512 for S&P, 80% of initial levels
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| Final barrier levels: | 10,529.624 for Nasdaq, 1,293.7246 for Russell, 3,067.323 for S&P, 70% of initial levels
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48133XJ56
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