Published on 10/6/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $152,000 uncapped accelerated barrier notes on MerQube
By Kiku Steinfeld
Chicago, Oct. 6 – JPMorgan Chase Financial Co. LLC priced $152,000 of 0% uncapped accelerated barrier notes due March 24, 2028 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout at maturity will be par plus 295% of the return of the index. The payout will be par if the index declines but finishes above its 55% barrier. Investors will lose 1% for every 1% that the index declines if it closes below its barrier.
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: | Uncapped accelerated barrier notes
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Underlying index: | MerQube US Large-Cap Vol Advantage index
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Amount: | $152,000
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Maturity: | March 24, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains par plus 295% of index return; par if index declines but finishes above its downside barrier; 1% loss for every 1% that index declines if it finishes below its downside barrier
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Initial level: | 2,270.02
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Upside leverage: | 295%
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Cap: | None
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Barrier: | 1,248.511, 55% of initial level
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Pricing date: | March 21, 2023
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Settlement date: | March 24, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 4%
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Cusip: | 48133VCG3
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