Published on 5/1/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million contingent interest notes linked to Dow, Russell, S&P
New York, May 1 – JPMorgan Chase Financial Co. LLC priced $1 million of contingent interest notes due April 25, 2024 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
If the worst performing index finishes at or above its downside threshold, 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 30%.
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, Russell 2000 index and S&P 500 index
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Amount: | $1 million
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Maturity: | April 25, 2024
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Coupon: | 6%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold, par; otherwise, 1% loss for every 1% that worst performing index declines beyond 30%
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Initial levels: | 33,808.96 for Dow Jones industrial average, 1,791.506 for Russell 2000, 4,133.52 for S&P 500
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Buffer: | 30%
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Downside thresholds: | 23,666.272 for Dow Jones industrial average, 1,254.0542 for Russell 2000, 2,893.464 for S&P 500, 70% of initial level
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Pricing date: | April 21
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Settlement date: | April 26
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48133VH45
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