Published on 11/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.02 million callable contingent interest notes on three indexes
New York, Nov. 1 – JPMorgan Chase Financial Co. LLC priced $1.02 million of callable contingent interest notes due Oct. 29, 2026 linked to the Dow Jones industrial average, the Nasdaq-100 Technology Sector index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.7%, paid monthly, if each underlying index 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 May 1, 2024.
If the worst performing index 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 index declines from its 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 indexes: | Dow Jones industrial average, Nasdaq-100 Technology Sector index and S&P 500 index
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| Amount: | $1.02 million
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| Maturity: | Oct. 29, 2026
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| Coupon: | 9.7%, paid monthly, if each underlying index 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 index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any monthly review date starting May 1, 2024
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| Initial levels: | 32,784.30 for Dow Jones industrial average, 7,528.82 for Nasdaq-100 Technology Sector, 4,137.23 for S&P 500
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| Downside thresholds: | 22,949.01 for Dow Jones industrial average, 5,270.174 for Nasdaq-100 Technology Sector, 2,896.061 for S&P 500, 70% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.95%
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| Cusip: | 48134B6U2
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