Published on 4/8/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $560,000 uncapped accelerated barrier notes on ETFs
By Kiku Steinfeld
Chicago, April 8 – JPMorgan Chase Financial Co. LLC priced $560,000 of 0% uncapped accelerated barrier notes due Jan. 8, 2027 linked to the SPDR Dow Jones industrial average ETF Trust, SPDR S&P 500 ETF Trust and iShares Russell 1000 Growth ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing ETF gains the payout at maturity will be par plus 165% of the return of the worst performing ETF. The payout will be par if the worst performing ETF declines but finishes above its 70% barrier. Investors will lose 1% for every 1% that the worst performing ETF 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: | Uncapped accelerated barrier notes
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| Underlying ETFs: | SPDR Dow Jones industrial average ETF Trust, SPDR S&P 500 ETF Trust and iShares Russell 1000 Growth ETF
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| Amount: | $560,000
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| Maturity: | Jan. 8, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing ETF gains par plus 165% of worst performing ETF return; par if worst performing ETF declines but finishes above its downside barrier; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside barrier
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| Initial levels: | $342.81 for SPDR Dow Jones industrial average, $443.13 for SPDR S&P 500, $275.28 for iShares Russell 1000 Growth ETF
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| Upside leverage: | 165%
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| Cap: | None
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| Barriers: | $239.967 for SPDR Dow Jones industrial average, $310.191 for SPDR S&P 500, $192.696 for iShares Russell 1000 Growth ETF, 70% of initial level
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| Pricing date: | July 5, 2023
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| Settlement date: | July 10, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.3%
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| Cusip: | 48133X3Z7
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