Published on 8/17/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $176,000 review notes linked to MerQube US Tech+
Chicago, Aug. 17 – JPMorgan Chase Financial Co. LLC priced $176,000 of 0% review notes due July 22, 2027 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting July 24, 2023 and on any subsequent annual review date at a premium of 32% per year if the index closes above its initial value on the successive determination dates.
If the index finishes above its initial level at maturity, the notes will be called at par plus 160%.
If the index declines but ends above its 60% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines if it finishes below the downside threshold level.
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: | Review notes
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Underlying index: | MerQube US Tech+ Vol Advantage index
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Amount: | $176,000
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Maturity: | July 22, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If called, par plus 160%; if index declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
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Call: | Automatically starting July 24, 2023 and on any subsequent annual review date at a premium of 32% per year if the index closes above its initial value on the successive determination dates
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Initial level: | 7,032.67
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Downside threshold: | 4,219.602, 60% of initial level
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Strike date: | July 19, 2022
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Pricing date: | July 21, 2022
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Settlement date: | July 26, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.85%
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Cusip: | 48133L2P6
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