Published on 11/2/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.7 million 10.1% callable contingent interest notes on indexes
Chicago, Nov. 2 – JPMorgan Chase Financial Co. LLC priced $1.7 million of callable contingent interest notes due July 31, 2025 linked to the least performing of the Dow Jones industrial average, Nasdaq-100 Technology Sector index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.1%, paid monthly, if each underlying index closes at or above its 70% interest barrier level on the related monthly observation date.
The securities may be called starting Feb. 1, 2024 at par and on any subsequent monthly review date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Callable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 Technology Sector index and Russell 2000 index
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| Amount: | $1,698,000
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| Maturity: | July 31, 2025
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| Coupon: | 10.1% annual rate, paid monthly, if each underlying index closes at or above its 70% interest barrier level on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
|
| Call: | Starting Feb. 1, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 32,417.59 for Dow, 7,579.22 for Technology, 1,636.938 for Russell
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| Interest barrier levels: | 22,692.313 for Dow, 5,305.454 for Technology, 1,145.8566 for Russell, 70% of initial levels
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| Downside thresholds: | 22,692.313 for Dow, 5,305.454 for Technology, 1,145.8566 for Russell, 70% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48134BYU1
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