Published on 11/13/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $275,000 capped accelerated barrier notes linked to Dow, Russell
By Kiku Steinfeld
Chicago, Nov. 13 – JPMorgan Chase Financial Co. LLC priced $275,000 of 0% capped accelerated barrier notes due Oct. 17, 2024 linked to the Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout at maturity will be par plus 150% of the return of the worst performing index capped at par plus 29.25%. The payout will be par if the worst performing index declines but finishes above its 70% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it closes below its barrier.
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: | Capped accelerated barrier notes
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| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $275,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains par plus 150% of worst performing index return capped at par plus 29.25%; par if worst performing index declines but finishes above its downside barrier; 1% loss for every 1% that worst performing index declines if it finishes below its downside barrier
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| Initial levels: | 33,684.79 for Dow Jones industrial average, 1,786.595 for Russell 2000
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| Barriers: | 23,579.353 for Dow Jones industrial average, 1,250.6165 for Russell 2000, 70% of initial level
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| Upside leverage: | 150%
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| Cap: | 29.25%
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| Pricing date: | April 11, 2023
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| Settlement date: | April 14, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.2%
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| Cusip: | 48133VZS2
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