Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $288,000 9.25% callable contingent interest notes on indexes, ETF
By Kiku Steinfeld
Chicago, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $288,000 of callable contingent interest notes due Dec. 26, 2024 linked to the Energy Select Sector SPDR Fund, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid monthly, if each underlier closes at or above its 70% trigger level on the related monthly observation date.
If the worst performing asset 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 asset declines if it finishes below its downside threshold level.
The securities may be called starting Sept. 25, 2023 at par on any monthly 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 assets: | Energy Select Sector SPDR Fund, Russell 2000 index and S&P 500 index
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| Amount: | $288,000
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| Maturity: | Dec. 26, 2024
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| Coupon: | 9.25%, paid monthly, if each underlier closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Starting Sept. 25, 2023 at par on any monthly review date
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| Initial levels: | $78.36 for Energy Select Sector SPDR Fund, 1,866.699 for Russell, 4,388.71 for S&P
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| Downside thresholds: | $54.852 for Energy Select Sector SPDR Fund, 1,306.6893 for Russell, 3,072.097 for S&P, 70% of initial level
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| Pricing date: | June 20, 2023
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| Settlement date: | June 23, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133XTQ9
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