Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $427,000 0% uncapped dual directional digital barrier notes on indexes
By Kiku Steinfeld
Chicago, Jan. 22 – JPMorgan Chase Financial Co. LLC priced $427,000 of 0% uncapped dual directional digital barrier notes due June 7, 2028 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus the greater of the worst performing index return and the 55% digital payment.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but finishes at or above its 60% barrier.
Investors will lose 1% for every 1% that the worst performing index declines if it ends below its barrier.
The securities are non-callable.
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: | Uncapped dual directional digital barrier notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $427,000
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| Maturity: | June 7, 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 greater of worst performing index return and 55%; par if worst performing index declines but finishes above 60% barrier; 1% loss for every 1% that worst performing index declines if it finishes below barrier
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| Digital payment: | 55%
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| Cap: | None
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| Initial levels: | 33,762.76 for Dow, 14,546.64 for Nasdaq, 1,830.906 for Russell
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| Barriers: | 20,257.656 for Dow, 8,727.984 for Nasdaq, 1,098.5436 for Russell, 60% of initial level
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| Call: | Non-callable
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| Pricing date: | June 2, 2023
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| Settlement date: | June 7, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48133XEM4
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