Published on 2/24/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $783,000 8% callable contingent interest notes on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Feb. 26 – JPMorgan Chase Financial Co. LLC priced $783,000 of callable contingent interest notes due June 26, 2026 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.
Investors will receive a coupon of 8%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
If the worst performing index gains or ends above its 60% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The securities may be called starting Dec. 29, 2023 at par on any quarterly review date.
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: | Callable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $783,000
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| Maturity: | June 26, 2026
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| Coupon: | 8%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly 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 level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call option: | Starting Dec. 29, 2023 at par on any quarterly review date
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| Initial levels: | 33,727.43 for Dow, 14,891.48 for Nasdaq, 1,821.635 for Russell
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| Downside thresholds: | 20,236.458 for Dow, 8,934.888 for Nasdaq, 1,092.981 for Russell, 60% of initial level
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| Coupon barriers: | 23,609.201 for Dow, 10,424.036 for Nasdaq, 1,275.1445 for Russell, 70% of initial levels
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48133XWM4
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