Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $521,000 capped dual directional barrier notes on three indexes
By Kiku Steinfeld
Chicago, Feb. 27 – JPMorgan Chase Financial Co. LLC priced $521,000 of 0% capped dual directional barrier notes due May 23, 2024 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
If all indexes finish at or above their initial levels, the payout at maturity will be par plus the gain of the least performing index, subject to a maximum payout of par plus 14.45%.
If any index falls but each index finishes at or above 60% of its initial level, the payout will be par plus the absolute value of the least performing index return.
Otherwise, investors will lose 1% for each 1% decline of the worst performing index from its initial level.
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: | Capped dual directional barrier notes
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, S&P 500 index
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| Amount: | $521,000
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| Maturity: | May 23, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If all indexes finish at or above initial level, par plus return of worst performer capped at 14.45%; if any index declines but none finish below barrier level, par plus the absolute value of worst performer’s return; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Initial index levels: | 11,677.02 for Nasdaq, 1,849.732 for Russell, 3,965.34 for S&P
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| Barrier levels: | 7,006.212 for Nasdaq, 1,109.8392 for Russell, 2,379.204 for S&P; 60% of initial levels
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| Pricing date: | Nov. 18, 2022
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| Settlement date: | Nov. 23, 2022
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.25%
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| Cusip: | 48133PTR4
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