New York, Oct. 19 – JPMorgan Chase Financial Co. LLC priced $2 million of callable contingent interest notes due Oct. 1, 2026 linked to the SPDR S&P 500 ETF Trust, the Technology Select Sector SPDR Fund and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid monthly, if each underlying fund closes at or above its 70% downside threshold on the related monthly observation date.
The securities may be called at par on any monthly review date starting Jan. 2, 2024.
If the worst performing ETF finishes at or above its 70% downside threshold, the payout at maturity will be par plus the coupon.
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: | Callable contingent interest notes
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| Underlying ETFs: | SPDR S&P 500 ETF Trust, Technology Select Sector SPDR Fund and iShares Russell 2000 ETF
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| Amount: | $2 million
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| Maturity: | Oct. 1, 2026
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| Coupon: | 12.5%, paid monthly, if each underlying fund 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 ETF finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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| Call option: | At par on any monthly review date starting Jan. 2, 2024
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| Initial levels: | $426.05 for SPDR S&P 500, $162.22 for Technology Select Sector SPDR Fund, $175.99 for iShares Russell 2000 ETF
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| Downside thresholds: | $298.235 for SPDR S&P 500, $113.554 for Technology Select Sector SPDR Fund, $123.193 for iShares Russell 2000 ETF, 70% of initial levels
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| Strike date: | Sept. 27
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.4%
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| Cusip: | 48134BMB6
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