Published on 1/17/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5,000 review notes linked to MerQube US Large-Cap
By Kiku Steinfeld
Chicago, Jan. 17 – JPMorgan Chase Financial Co. LLC priced $5,000 of 0% review notes due May 3, 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 ends above its 50% 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 will be called automatically starting May 1, 2024 on any annual review date at a premium of 30.75% per year if the index closes above 100% of its initial value.
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 Large-Cap Vol Advantage index
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Amount: | $5,000
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Maturity: | May 3, 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 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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Initial level: | 2,418.78
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Downside threshold: | 1,209.39, 50% of initial level
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Call: | Automatically starting May 1, 2024 on any annual review date at a premium of 30.75% per year if the index closes above 100% of its initial value
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Pricing date: | April 28, 2023
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Settlement date: | May 3, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133VA26
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