Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.17 million 20.5% callable yield notes on stocks, ETF
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $1.17 million of 20.5% callable yield notes due July 31, 2025 linked to the least performing of the stocks of Apple Inc. and Wayfair Inc. and the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes may be called on any monthly interest payment date starting Jan. 31, 2024 at par.
The payout at maturity will be par if the worst performing asset finishes at or above its 50% trigger. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below the trigger 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 yield notes
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Underlying assets: | Apple Inc., Wayfair Inc. and SPDR S&P 500 ETF Trust
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Amount: | $1,165,000
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Maturity: | July 31, 2025
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Coupon: | 20.5% annual rate, paid monthly
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Price: | Par
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Payout at maturity: | Par if worst performing asset finishes at or above its trigger value; otherwise, 1% loss for every 1% that worst performing asset declines
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Call: | Starting Jan. 31, 2024 at par on any monthly interest payment date
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Initial levels: | $194.50 for Apple, $68.31 for Wayfair, $455.51 for fund
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Trigger levels: | $97.25 for Apple, $34.155 for Wayfair, $227.755 for fund, 50% of initial levels
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.75%
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Cusip: | 48133YC36
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