Published on 3/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.18 million 9.25% yield notes linked to Russell 2000, S&P 500
By Kiku Steinfeld
Chicago, March 20 – JPMorgan Chase Financial Co. LLC priced $1.18 million of yield notes due June 4, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid monthly.
If the worst performing index gains or ends above its 70% trigger level, the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% decline in the worst performing index if it finished below its trigger.
The notes are non-callable.
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: | Yield notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $1,182,000
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Maturity: | June 4, 2024
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Coupon: | 9.25%, paid monthly
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 70% trigger, par; otherwise 1% loss for every 1% that worst performing index declines
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Initial levels: | 1,886.577 for Russell, 4,080.11 for S&P
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Triggers: | 1,320.6039 for Russell, 2,856.077 for S&P, 70% of initial level
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Call: | Non-callable
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Pricing date: | Nov. 30, 2022
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Settlement date: | Dec. 5, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.3665%
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Cusip: | 48133PVL4
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