Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $309,000 review notes linked to MerQube US Tech+
New York, April 16 – JPMorgan Chase Financial Co. LLC priced $309,000 of 0% review notes due July 14, 2028 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 at par plus a premium of 30.5% per year if the index closes at or above its call value on any annual review date. The call value is 100% of the initial index level on the first through fourth review dates and 80% of the initial index level on the final review date.
If the final index level is greater than or equal to the barrier level, 60% of the initial index level, the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines if it finishes below the barrier 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: | $309,000
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| Maturity: | July 14, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above barrier level, par; otherwise, 1% loss for every 1% that index declines
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| Call: | Automatically at par plus 30.5% per year if index closes at or above call level on any annual review date
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| Initial level: | 8,543.18
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| Call level: | 100% of initial index level on first through fourth review dates and 80% of initial index level on final review date
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| Barrier level: | 5,125.908, 60% of initial level
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| Strike date: | July 11, 2023
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| Pricing date: | July 14, 2023
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| Settlement date: | July 18, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.85%
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| Cusip: | 48133YGL2
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