Published on 9/29/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $560,000 7% yield notes linked to S&P 500
By Kiku Steinfeld
Chicago, Sept. 29 – JPMorgan Chase Financial Co. LLC priced $560,000 of yield notes due Sept. 19, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid monthly.
If the index gains or ends above its 60% trigger the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% decline in the index if it finished below its trigger.
The notes are non-callable.
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: | Yield notes
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Underlying index: | S&P 500 index
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Amount: | $560,000
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Maturity: | Sept. 19, 2024
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Coupon: | 7%, paid monthly
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Price: | Par
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Payout at maturity: | If index finishes at or above its 60% trigger, par; otherwise 1% loss for every 1% that index declines
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Initial level: | 3,960.28
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Trigger: | 2,376.168, 60% of initial level
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Call: | Non-callable
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Pricing date: | March 16, 2023
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Settlement date: | March 21, 2023
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.7%
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Cusip: | 48133VBC3
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