Published on 10/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.9 million 10.75% callable contingent interest notes on indexes, ETF
New York, Oct. 17 – JPMorgan Chase Financial Co. LLC priced $4.9 million of callable contingent interest notes due Oct. 9, 2026 linked to the Russell 2000 index, S&P 500 index and SPDR Euro Stoxx 50 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.75%, paid monthly, if each underlier closes at or above its 70% downside threshold on the related monthly observation date.
If the worst performing asset gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
The securities may be called starting Jan. 11, 2024 at par and on any subsequent quarterly 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 assets: | Russell 2000 index, S&P 500 index and SPDR Euro Stoxx 50 ETF
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| Amount: | $4.9 million
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| Maturity: | Oct. 9, 2026
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| Coupon: | 10.75%, paid monthly, if each underlier closes at or above its 70% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Starting Jan. 11, 2024 at par and on any subsequent quarterly review date
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| Initial levels: | 1,745.558 for Russell 2000, 4,308.50 for S&P 500, $42.07 for SPDR Euro Stoxx 50 ETF
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| Downside thresholds: | 1,221.8906 for Russell 2000, 3,015.95 for S&P 500, $29.449 for SPDR Euro Stoxx 50 ETF, 70% of initial level
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48134BSM6
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