Published on 5/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $507,000 digital barrier notes linked to S&P, EM ETF
By Kiku Steinfeld
Chicago, May 30 – JPMorgan Chase Financial Co. LLC priced $507,000 of 0% digital barrier notes due Jan. 23, 2026 linked to the S&P 500 index and iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing asset ends above its 60% barrier level, the payout at maturity will be par plus 27.5%. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below the barrier 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: | Digital barrier notes
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Underlying assets: | S&P 500 index and iShares MSCI Emerging Markets ETF
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Amount: | $507,000
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Maturity: | Jan. 23, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its 60% barrier level, par plus 27.5%; 1% loss for every 1% that worst performing asset declines if it finishes below its barrier level
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Initial levels: | 3,972.61 for S&P, $41.73 for EM
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Digital payment: | 27.5%
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Barrier levels: | 2383.566 for S&P, $25.038 for EM, 60% of initial levels
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Pricing date: | Jan. 20, 2023
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Settlement date: | Jan. 25, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.95%
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Cusip: | 48133TZU2
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