Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $3.7 million 9.5% autocallable contingent interest notes on indexes
By Kiku Steinfeld
Chicago, April 16 – JPMorgan Chase Financial Co. LLC priced $3.7 million of autocallable contingent interest notes due Jan. 17, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5% if the worst performing index closes at or above its 70% trigger level on the related valuation date.
The securities will be called automatically starting Oct. 16, 2023 if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing index closes 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $3.7 million
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| Maturity: | Jan. 17, 2025
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| Coupon: | 9.5% if the worst performing index closes at or above its 70% trigger level on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes 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 starting Oct. 16, 2023 if the level of each underlying index is greater than or equal to its initial level and on any subsequent quarterly review date
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| Initial levels: | 15,565.60 for Nasdaq-100, 1,931.090 for Russell 2000, 4,505.42 for S&P 500
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| Trigger levels: | 10,895.92 for Nasdaq-100, 1,351.763 for Russell 2000, 3,153.794 for S&P 500, 70% of initial level
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| Pricing date: | July 14, 2023
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| Settlement date: | July 19, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.48568%
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| Cusip: | 48133XF35
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