Published on 11/10/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $600,000 autocallable accelerated barrier notes on indexes
By Kiku Steinfeld
Chicago, Nov. 10 – JPMorgan Chase Financial Co. LLC priced $600,000 of 0% autocallable accelerated barrier notes due April 13, 2028 linked to the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus 186% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 60% barrier and they will lose 1% for every 1% that the worst performing index declines if it finishes below the barrier level.
The notes will be called automatically on April 10, 2024 at a premium of 20% if the worst performing index closes above 120% 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: | Autocallable accelerated barrier notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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| Amount: | $600,000
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| Maturity: | April 13, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 186% of worst performing index return; if worst performing index declines but 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
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| Initial levels: | 33,586.52 for Dow, 13,051.23 for Nasdaq, 4,109.11 for S&P
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| Upside leverage: | 186%
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| Downside thresholds: | 20,151.912 for Dow, 7,830.738 for Nasdaq, 2,465.466 for S&P, 60% of initial level
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| Call: | Automatically on April 10, 2024 at a premium of 20% if the worst performing index closes above 120% of its initial value
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| Pricing date: | April 10, 2023
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| Settlement date: | April 13, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48133VYC8
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