Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $650,000 0% buffered digital notes linked to Nasdaq, Russell, S&P
Chicago, Dec. 12 – JPMorgan Chase Financial Co. LLC priced $650,000 of 0% buffered digital notes due Nov. 8, 2024 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains or declines but by no more than its 15% buffer the payout at maturity will be par plus 15.15%.
If the worst performer declines more than 15% but not more than 30%, the payout will be par plus the return of the index plus the 15% buffer and the 15.5% digital return. For example, if the worst performer is down 30%, the payout will be $1,001.50 per $1,000 note.
Otherwise, investors will lose 1% for every 1% the worst performing index declines beyond the 15% buffer.
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: | Buffered digital notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $650,000
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| Maturity: | Nov. 8, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains or declines but by no more than 15% buffer, par plus 15.15%; if worst performer declines more than 15% but not more than 30%, par plus index return plus 15% buffer plus 15.15% digital return; otherwise, 1% loss for every 1% that worst performing index declines beyond the 15% buffer
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| Call: | Non-callable
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| Initial levels: | 13,259.13 for Nasdaq, 1,759.879 for Russell, 4,136.25 for S&P
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| Buffer levels: | 85% of initial levels
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| Digital barrier levels: | 9,281.391 for Nasdaq, 1,231.9153 for Russell, 2,895.375 for S&P; 70% of initial levels
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| Buffer: | 15%
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| Pricing date: | May 5, 2023
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| Settlement date: | May 10, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.65%
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| Cusip: | 48133VX54
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