Published on 6/15/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2 million callable contingent interest notes on Dow, Russell, S&P
New York, June 15 – JPMorgan Chase Financial Co. LLC priced $2 million of callable contingent interest notes due June 12, 2026 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.65%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities may be called at par on any monthly review date starting Sept. 14.
If the worst performing index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
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, Russell 2000 index and S&P 500 index
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Amount: | $2 million
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Maturity: | June 12, 2026
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Coupon: | 9.65%, paid monthly, if each underlying index closes at or above its 70% downside threshold 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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call option: | At par on any monthly review date starting Sept. 14
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Initial levels: | 33,876.78 for Dow Jones industrial average, 1,865.706 for Russell 2000, 4,298.86 for S&P 500
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Downside thresholds: | 23,713.746 for Dow Jones industrial average, 1,305.9942 for Russell 2000, 3,009.202 for S&P 500, 70% of initial level
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Pricing date: | June 9
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Settlement date: | June 14
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133XNK8
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