Published on 1/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.21 million dual directional digital barrier notes on three indexes
By William Gullotti
Buffalo, N.Y., Jan. 23 – JPMorgan Chase Financial Co. LLC priced $2.21 million of 0% dual directional digital barrier notes due April 3, 2024 linked to the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If each index finishes at or above its initial level, the payout at maturity will be par plus 2%.
If the worst performer declines but finishes at or above 61% of its initial level, the payout will be par plus 1.5 times the absolute value of that index’s return.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | Dual directional digital barrier notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $2.21 million
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| Maturity: | April 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above initial level, par plus 2%; if the worst performer declines but finishes at or above barrier level, par plus 1.5 times the absolute value of that index return; otherwise, 1% loss for each 1% decline of the worst performer from initial level
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| Initial index levels: | 10,679.34 for Nasdaq, 1,722.021 for Russell, 32,875.71 for Dow
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| Barrier levels: | 6,514.3974 for Nasdaq, 1,050.43281 for Russell, 20,054.1831 for Dow; 61% of initial levels
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 3
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48133TGT6
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