Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $663,000 uncapped accelerated barrier notes on indexes
By Kiku Steinfeld
Chicago, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $663,000 of 0% uncapped accelerated barrier notes due May 3, 2028 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout at maturity will be par plus 176.5% of the return of the worst performing index. The payout will be par if the worst performing index declines but finishes above its 50% barrier. Investors will lose 1% for every 1% that the worst performing index declines if it closes below its barrier.
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: | Uncapped accelerated barrier notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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Amount: | $663,000
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Maturity: | May 3, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains par plus 176.5% of worst performing index return; par if worst performing index declines but finishes above its downside barrier; 1% loss for every 1% that worst performing index declines if it finishes below its downside barrier
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Initial levels: | 34,098.16 for Dow Jones industrial average, 13,245.99 for Nasdaq-100, 1,768.987 for Russell 2000
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Upside leverage: | 176.5%
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Cap: | None
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Barriers: | 17,049.08 for Dow Jones industrial average, 6,622.995 for Nasdaq-100, 884.4935 for Russell 2000, 50% of initial level
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Pricing date: | April 28, 2023
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Settlement date: | May 3, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.05%
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Cusip: | 48133VG79
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