Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.07 million contingent interest notes linked to Dow, S&P
New York, July 14 – JPMorgan Chase Financial Co. LLC priced $1.07 million of contingent interest notes due July 5, 2024 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
If the worst performing index finishes at or above 85% of initial level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 15%.
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: | Contingent interest notes
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| Underlying indexes: | Dow Jones industrial average and S&P 500 index
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| Amount: | $1,065,000
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| Maturity: | July 5, 2024
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| Coupon: | 7.75%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above buffer level, par; otherwise, 1% loss for every 1% that worst performing index declines beyond buffer
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| Initial levels: | 34,122.42 for Dow Jones industrial average, 4,396.44 for S&P 500
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| Coupon barrier: | 27,297.936 for Dow Jones industrial average, 3,517.152 for S&P 500, 80% of initial levels
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| Buffer: | 15%
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| Buffer levels: | 29,004.057 for Dow Jones industrial average, 3,736.974 for S&P 500, 85% of initial levels
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| Strike date: | June 29
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
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| Cusip: | 48133X6F8
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