By Kiku Steinfeld
Chicago, April 12 – JPMorgan Chase Financial Co. LLC priced $7.4 million of 0% trigger absolute return step securities due July 19, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of 44.5% and the index return.
If the final index level is less than the initial index level and greater than or equal to the downside threshold level, 75% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the downside threshold level, investors will lose 1% for every 1% that the final index level is less than the initial index level.
The notes are guaranteed by JPMorgan Chase & Co.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Trigger absolute return step securities
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Underlying index: | S&P 500 index
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Amount: | $7,404,500
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Maturity: | July 19, 2028
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than or equal to initial index level, par plus greater of 44.5% and index return; if final index level is less than initial index level and greater than or equal to 75% downside threshold level, par plus absolute value of index return; if final index level is less than 75% downside threshold level, 1% loss for every 1% that final index level is less than initial index level
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Initial level: | 4,505.42
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Downside threshold: | 3,379.07; 75% of initial level
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Pricing date: | July 14, 2023
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Settlement date: | July 19, 2023
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Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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Fees: | None
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Cusip: | 48131C211
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