Published on 8/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $250,000 6.65% contingent interest notes linked to S&P 500
By Kiku Steinfeld
Chicago, Aug. 14 – JPMorgan Chase Financial Co. LLC priced $250,000 of contingent interest notes due March 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.65%, paid monthly, if the underlying index closes at or above its 60% trigger level on the related monthly observation date.
If the index gains or ends above its 60% trigger value, the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the index declines if it finishes below its trigger value.
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: | Contingent interest notes
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Underlying index: | S&P 500 index
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Amount: | $250,000
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Maturity: | March 28, 2024
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Coupon: | 6.65%, paid monthly, if the underlying index closes at or above its 60% trigger level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If index finishes at or above its 60% trigger value, par; 1% loss for every 1% that index declines if it finishes below its trigger value
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Initial level: | 3,970.04
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Trigger value: | 2,382.024, 60% of initial level
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Pricing date: | Feb. 24, 2023
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Settlement date: | March 1, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133UG55
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