Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.61 million 7.45% contingent interest autocalls Russell 2000, S&P 500
New York, July 28 – JPMorgan Chase Financial Co. LLC priced $2.61 million of autocallable contingent interest notes due July 25, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.45% if the worst performing index closes at or above its 60% trigger level on the related valuation date.
Starting Oct. 23, the securities will be called automatically at par if each index closes at or above initial level on any quarterly review date.
At maturity the payout will be par if all of the indexes never close below the 60% trigger level during the life of the notes or the worst performing index ends above its initial level. Otherwise investors will be fully exposed to the decline of the worst performing index.
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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $2,611,000
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| Maturity: | July 25, 2024
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| Coupon: | 7.45% if the worst performing index closes at or above its 60% trigger level on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par if all of the indexes never close below the trigger level during the life of the notes or the worst performing index ends above its initial level, otherwise investors will be fully exposed to the decline in the worst performing index
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| Call: | Starting Oct. 23, automatically at par if each index closes at or above initial level on any quarterly review date
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| Initial levels: | 1,960.255 for Russell 2000, 4,536.34 for S&P 500
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| Trigger levels: | 1,176.153 for Russell 2000, 2,721.804 for S&P 500, 60% of initial level
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.72356%
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| Cusip: | 48133YML5
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