Published on 9/8/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.45 million uncapped accelerated barrier notes on two ETFs
New York, Sept. 8 – JPMorgan Chase Financial Co. LLC priced $1.45 million of 0% uncapped accelerated barrier notes due Sept. 4, 2026 linked to the Invesco QQQ Trust, Series 1 and the SPDR Dow Jones industrial average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains, the payout at maturity will be par plus 161% of the return of that ETF.
The payout will be par if the worst performing ETF declines but finishes at or above its 70% barrier. Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial 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: | Uncapped accelerated barrier notes
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Underlying ETFs: | Invesco QQQ Trust, Series 1 and SPDR Dow Jones industrial average ETF Trust
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Amount: | $1.45 million
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Maturity: | Sept. 4, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing ETF gains, par plus 161% of that ETF’s return; par if worst performing ETF declines but finishes at or above its downside barrier; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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Initial levels: | $377.59 for Invesco QQQ Trust, Series 1, $348.98 for SPDR Dow Jones industrial average
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Upside leverage: | 161%
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Barriers: | $264.313 for Invesco QQQ Trust, Series 1, $244.286 for SPDR Dow Jones industrial average, 70% of initial levels
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Pricing date: | Sept. 1
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Settlement date: | Sept. 7
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.6%
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Cusip: | 48134ACP8
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