New Issue: JPMorgan prices $500,000 digital equity notes on Adobe

By Kiku Steinfeld

Chicago, April 24 – JPMorgan Chase Financial Co. LLC priced $500,000 of 0% digital equity notes due July 29, 2025 linked to the common shares of Adobe, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

If the stock finishes at or above 75% of its initial stock level, the payout at maturity will be the threshold settlement amount of $1,210 per $1,000 of notes.

Otherwise, investors will lose 1.3333% for each 1% decline in the stock beyond 25%.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Digital equity notes
Underlying stock:	Adobe, Inc.
Amount:	$500,000
Maturity:	July 29, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If stock finishes at or above 75% threshold level, $1,210 per $1,000 of notes; otherwise, 1.3333% loss per 1% drop beyond 25%
Initial level:	$513.97
Threshold level:	75% of initial level
Pricing date:	July 27, 2023
Settlement date:	Aug. 3, 2023
Agent:	J.P. Morgan Securities LLC
Fees:	1.87%
Cusip:	48133YMZ4

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