Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.13 million 7.3% callable contingent interest notes linked to indexes
New York, April 23 – JPMorgan Chase Financial Co. LLC priced $1.13 million of callable contingent interest notes due July 22, 2026 linked to the Dow Jones industrial average, 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 7.3%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
If the worst performing index gains or ends above its 65% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The securities may be called starting Jan. 22, 2024 at par and on any subsequent monthly review date.
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 contingent interest notes
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $1.13 million
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Maturity: | July 22, 2026
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Coupon: | 7.3%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | Starting Jan. 22, 2024 at par and on any subsequent monthly review date
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Initial levels: | 34,585.35 for Dow Jones industrial average, 1,951.269 for Russell 2000, 4,522.79 for S&P 500
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Downside thresholds: | 22,480.4775 for Dow Jones industrial average, 1,268.32485 for Russell 2000, 2,939.8135 for S&P 500, 65% of initial level
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Coupon barriers: | 24,209.745 for Dow Jones industrial average, 1,365.8883 for Russell 2000, 3,165.953 for S&P 500, 70% of initial levels
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Pricing date: | July 17, 2023
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Settlement date: | July 20, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.95%
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Cusip: | 48133YFP4
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