By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – JPMorgan Chase Financial Co. LLC priced $15 million of 0% review notes Jan. 9, 2024 linked to the lesser performing of the VanEck Vectors Oil Services ETF and the shares of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 16.5% if each asset closes at or above its initial level on any annual review date.
The premium applicable to the maturity date is 49.5%.
If the notes are not called, the payout at maturity will be par unless either asset falls by more than 50%, in which case investors will be fully exposed to any losses of the worse performing asset.
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: | Review notes
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| Underlying assets: | VanEck Vectors Oil Services ETF and Advanced Micro Devices, Inc.
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| Amount: | $15 million
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| Maturity: | Jan. 9, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 16.5% per year if each asset closes at or above its initial level on any annual review date
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| Payout at maturity: | If not called and each asset finishes at or above 50% trigger level, par; otherwise, 1% loss for each 1% decline of worse performing index or fund
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| Initial levels: | $92.30 for Advanced Micro, $156.79 for fund
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| Trigger levels: | 50% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 8
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.5%
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| Cusip: | 48132RFW5
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