Published on 9/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.92 million autocallable contingent interest notes on three indexes
New York, Sept. 1 – JPMorgan Chase Financial Co. LLC priced $2.92 million of autocallable contingent interest notes due Sept. 2, 2026 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly review date starting Feb. 28, 2024.
At maturity, the payout will be par unless the worst performing index finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the worst performing index.
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: | Autocallable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $2,915,000
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| Maturity: | Sept. 2, 2026
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| Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically at par if the closing level of each underlying index is greater than or equal to its initial level on any quarterly review date starting Feb. 28, 2024
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| Initial levels: | 34,559.98 for Dow Jones industrial average, 15,052.46 for Nasdaq-100, 1,869.007 for Russell 2000
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| Trigger levels: | 24,191.986 for Dow Jones industrial average, 10,536.722 for Nasdaq-100, 1,308.3049 for Russell 2000, 70% of initial levels
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| Coupon barriers: | 27,647.984 for Dow Jones industrial average, 12,041.968 for Nasdaq-100, 1,495.2056 for Russell 2000, 80% of initial levels
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 31
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48134AJF3
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