Published on 9/20/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5,000 review notes linked to MerQube US Large-Cap index
Chicago, Sept. 20 – JPMorgan Chase Financial Co. LLC priced $5,000 of 0% review notes due Sept. 3, 2027 linked to the MerQube US Large-Cap Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically starting Sept. 1, 2023 and on any subsequent annual review date at a premium of 29.5% per year if the index closes above its initial value on the successive determination dates.
If the notes are not called because the index has finishes below its initial level but the index ends above its 50% downside threshold the payout at maturity will be par. Investors will lose 1% for every 1% that the index declines if it finishes below the downside threshold 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: | Review notes
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Underlying index: | MerQube US Large-Cap Vol Advantage index
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Amount: | $5,000
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Maturity: | Sept. 3, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 147.5% if notes are called because index finishes positive; if index declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
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Call: | Automatically starting Sept. 1, 2023 and on any subsequent annual review date at a premium of 29.5% per year if the index closes above its initial value on the successive determination dates
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Initial level: | 2,495.54
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Downside threshold: | 1,247.77, 50% of initial level
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Pricing date: | Aug. 31, 2022
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Settlement date: | Sept. 6, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 48133LP55
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