Published on 1/28/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 10% callable contingent interest notes linked to Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Jan. 29 – JPMorgan Chase Financial Co. LLC priced $250,000 of callable contingent interest notes due March 13, 2025 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
If the worst performing index 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 index declines if it finishes below its downside threshold level.
The securities may be called starting Sept. 14, 2023 at par on any monthly 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 indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $250,000
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| Maturity: | March 13, 2025
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| Coupon: | 10%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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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; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | Starting Sept. 14, 2023 at par on any monthly review date
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| Initial levels: | 33,876.78 for Dow, 1,865.706 for Russell, 4,298.86 for S&P
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| Downside thresholds: | 23,713.746 for Dow, 1,305.9942 for Russell, 3,009.202 for S&P, 70% of initial level
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| Coupon barriers: | 27,101.424 for Dow, 1,492.5648 for Russell, 3,439.088 for S&P, 80% of initial levels
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| Pricing date: | June 9, 2023
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| Settlement date: | June 14, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.45%
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| Cusip: | 48133XB39
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