Published on 4/15/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.78 million 9.75% callable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, April 15 – JPMorgan Chase Financial Co. LLC priced $1.78 million of callable contingent interest notes due July 17, 2025 linked to the Nasdaq-100 Technology Sector index, S&P 500 index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid monthly, if each underlier closes at or above its 60% trigger level on the related monthly observation date.
If the worst performing asset gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
The securities may be called starting Oct. 19, 2023 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 assets: | Nasdaq-100 Technology Sector index, S&P 500 index and iShares Russell 2000 Value ETF
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| Amount: | $1,776,000
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| Maturity: | July 17, 2025
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| Coupon: | 9.75%, paid monthly, if each underlier closes at or above its 60% trigger level on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
|
| Call: | Starting Oct. 19, 2023 at par and on any subsequent monthly review date
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| Initial levels: | 8,286.71 for Nasdaq-100 Technology Sector, 4,505.42 for S&P 500, $144.30 for iShares Russell 2000 Value ETF
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| Downside thresholds: | 4,972.026 for Nasdaq-100 Technology Sector, 2,703.252 for S&P 500, $86.58 for iShares Russell 2000 Value ETF, 60% 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: | 0.7%
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| Cusip: | 48133YDC5
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