Published on 5/3/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $400,000 dual directional accelerated barrier notes linked to S&P
By Angela McDaniels
Tacoma, Wash., May 3 – JPMorgan Chase Financial Co. LLC priced $400,000 of 0% capped dual directional accelerated barrier notes due Jan. 17, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 20.75%.
If the final index level is less than or equal to the initial level but greater than or equal to the barrier level, 85% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the barrier level, investors will lose 1% for every 1% that the index declines from its initial level.
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: | Capped dual directional accelerated barrier notes
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Underlying index: | S&P 500 index
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Amount: | $400,000
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Maturity: | Jan. 17, 2025
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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 initial index level, par plus 150% of index return, subject to maximum return of 20.75%; if final index level is less than or equal to initial level but greater than or equal to barrier level, par plus absolute value of index return; if final index level is less than barrier level, 1% loss for every 1% that index declines from its initial level
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Initial level: | 4,505.42
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Barrier level: | 3,829.607, or 85% 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: | 0.55%
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Cusip: | 48133YFQ2
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