Published on 3/23/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $104,000 capped lookback notes on S&P 500
By Kiku Steinfeld
Chicago, March 23 – JPMorgan Chase Financial Co. LLC priced $104,000 of 0% capped lookback notes due Dec. 5, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The initial index level, or the lookback level, will be the lowest closing level of the index during the period from Nov. 30, 2022 to and including Feb. 28, 2023 and will not be greater than the closing level on the pricing date. The closing index level on the pricing date was 4,080.11.
If the final index level is greater than the lookback level, the payout at maturity will be par plus the index gain, capped at 25.5%.
Otherwise, investors will receive par.
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 lookback notes
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Underlying index: | S&P 500
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Amount: | $104,000
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Maturity: | Dec. 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than the lookback level, par plus index gain, capped at 25.5%; otherwise, par
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Initial level: | Lowest closing level of the index on any trading day from pricing date to and including Feb. 28, 2023, not to exceed the closing level of 4,080.11 on the pricing date
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Pricing date: | Nov. 30, 2022
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Settlement date: | Dec. 5, 2022
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48133PGQ0
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