Published on 2/12/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $931,000 autocallable accelerated barrier notes linked to Russell, S&P
Chicago, Feb. 12 – JPMorgan Chase Financial Co. LLC priced $931,000 of 0% autocallable accelerated barrier notes due May 30, 2025 linked to the lesser performing of the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically on May 29, 2024 at a premium of 11.5% if the worst performing index closes above its initial value.
If the worst performing index gains the payout will be par plus 150% of the worst performing index return. Investors will receive par if the worst performing index declines but ends at or above its 70% barrier and they will lose 1% for every 1% that the worst performing index 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: | Autocallable accelerated barrier notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $931,000
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| Maturity: | May 30, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its initial value, par plus 150% of worst performing index return; if worst performing index declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | Automatically on May 29, 2024 at a premium of 11.5% if the worst performing index closes above its initial value
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| Initial level: | 1,754.605 for Russell, 4,151.28 for S&P
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| Downside thresholds: | 1,228.2235 for Russell, 2,905.896 for S&P, 70% of initial levels
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| Upside leverage: | 150%
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| Pricing date: | May 25, 2023
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| Settlement date: | May 31, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.49731%
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| Cusip: | 48133WCD8
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