Published on 3/31/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $275,000 8% callable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, April 1 – JPMorgan Chase Financial Co. LLC priced $275,000 of callable contingent interest notes due April 3, 2025 linked to 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 8%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
If the worst performing index gains or loses no more than its 15% buffer at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines beyond the buffer.
The securities may be called starting Oct. 5, 2023 at par and on any subsequent 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: | Russell 2000 index and S&P 500 index
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| Amount: | $275,000
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| Maturity: | April 3, 2025
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| Coupon: | 8%, paid monthly, if each underlying index closes at or above its 75% 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 gains or declines by no more than the buffer, par; 1% loss for every 1% that worst performing index declines beyond the buffer
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| Call: | Starting Oct. 5, 2023 at par and on any subsequent monthly review date
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| Initial levels: | 1,888.734 for Russell 2000, 4,450.38 for S&P 500
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| Coupon barrier levels: | 1,416.5505 for Russell 2000, 3,337.785 for S&P 500; 75% of initial levels
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| Buffer levels: | 1,605.4239for Russell 2000, 3,782.823 for S&P 500; 85% of initial levels
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| Pricing date: | June 30, 2023
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| Settlement date: | July 6, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133X2C9
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