Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 uncapped digital barrier notes on indexes, ETF
By Kiku Steinfeld
Chicago, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% uncapped digital barrier notes due June 25, 2026 linked to the ARK Innovation ETF, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing asset ends above its 60% barrier the payout at maturity will be par plus the greater of the worst performing asset return and 46%. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below the 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 digital barrier notes
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Underlying assets: | ARK Innovation ETF, Nasdaq-100 index and S&P 500 index
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Amount: | $500,000
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Maturity: | June 25, 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, par plus greater of worst performing asset return and 46%; 1% loss for every 1% that worst performing asset declines if it finishes below its barrier
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Initial levels: | $44.26 for ARK Innovation ETF, 15,070.15 for Nasdaq, 4,388.71 for S&P
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Digital payment: | 46%
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Barriers: | $26.556 for ARK Innovation ETF, 9,042.09 for Nasdaq, 2,633.226 for S&P, 60% 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: | 0.95%
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Cusip: | 48133XQW9
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