Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $626,000 uncapped accelerated barrier notes on SPDR ETFs
By Kiku Steinfeld
Chicago, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $626,000 of 0% uncapped accelerated barrier notes due May 3, 2027 linked to the SPDR Dow Jones industrial average ETF Trust and SPDR S&P 500 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 153% of the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but finishes above its 70% barrier. Investors will lose 1% for every 1% that the worst performing ETF declines if it closes below its barrier.
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: | SPDR Dow Jones industrial average ETF Trust and SPDR S&P 500 ETF Trust
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Amount: | $626,000
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Maturity: | May 3, 2027
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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 153% of worst performing ETF return; par if worst performing ETF declines but finishes above its downside barrier; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside barrier
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Initial levels: | $341.03 for SPDR Dow Jones industrial average, $415.93 for SPDR S&P 500
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Upside leverage: | 153%
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Cap: | None
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Barriers: | $238.721 for SPDR Dow Jones industrial average, $291.151 for SPDR S&P 500, 70% of initial level
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Pricing date: | April 28, 2023
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Settlement date: | May 3, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133VN30
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