Published on 4/12/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.48 million 12.5% callable contingent interest notes linked to Russell, S&P
By Kiku Steinfeld
Chicago, April 12 – JPMorgan Chase Financial Co. LLC priced $5.48 million of callable contingent interest notes due Oct. 17, 2024 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if each underlying index closes at or above its 75% trigger level on each day of the related quarterly observation period.
The payout at maturity will be par unless any index closes below its 75% downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performing index declines.
The securities may be called starting Jan. 19, 2024 at par and on any subsequent quarterly review date.
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: | Callable contingent interest notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $5.48 million
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| Maturity: | Oct. 17, 2024
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| Coupon: | 12.5%, paid quarterly, if each underlying index closes at or above its 75% trigger level on each day of the related quarterly observation period
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its 75% downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performing index declines
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| Call: | Starting Jan. 19, 2024 at par and on any subsequent quarterly review date
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| Initial levels: | 1,931.090 for Russell 2000, 4,505.42 for S&P 500
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| Downside threshold/trigger levels: | 1,448.3175 for Russell 2000, 3,379.065 for S&P 500, 75% of initial level
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| Pricing date: | July 14, 2023
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| Settlement date: | July 19, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48133XQ58
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