Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.09 million 9% callable contingent interest notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, April 16 – JPMorgan Chase Financial Co. LLC priced $3.09 million of callable contingent interest notes due June 20, 2025 linked to the Nasdaq-100 index, 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 9%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The securities may be called starting Oct. 19, 2023 at par and on any subsequent monthly review date.
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: | Callable contingent interest notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $3.09 million
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| Maturity: | June 20, 2025
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| Coupon: | 9%, paid monthly, if each underlying index closes at or above its 70% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index 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: | Starting Oct. 19, 2023 at par and on any subsequent monthly review date
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| Initial levels: | 15,565.60 for Nasdaq-100, 1,931.090 for Russell 2000, 4,505.42 for S&P 500
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| Downside thresholds: | 10,895.92 for Nasdaq-100, 1,351.763 for Russell 2000, 3,153.794 for S&P 500, 70% 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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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.225%
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| Cusip: | 48133YEJ9
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