Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $545,000 9.5% callable contingent interest notes on index, ETF
Chicago, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $545,000 of callable contingent interest notes due May 15, 2026 linked to the lesser performing of the Russell 2000 index and iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting Aug. 17, 2023 at par and on any subsequent monthly review date.
If the worst performing asset gains or ends above its 60% downside threshold the payout at maturity will be par plus any coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold 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 assets: | Russell 2000 index and iShares MSCI EAFE ETF
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| Amount: | $545,000
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| Maturity: | May 15, 2026
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| Coupon: | 9.5% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| 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
|
| Call: | Starting Aug. 17, 2023 at par and on any subsequent monthly review date
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| Initial levels: | 1,740.849 for Russell, $73.14 for ETF
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| Coupon barriers: | 1,218.5943 for Russell, $51.198 for ETF, 70% of initial levels
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| Downside thresholds: | 1,044.5094 for Russell, $43.884 for ETF, 60% of initial levels
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| Pricing date: | May 12, 2023
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| Settlement date: | May 17, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.95%
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| Cusip: | 48133WGP7
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