Published on 2/22/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.37 million autocallable accelerated barrier notes linked to three ETFs
New York, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $6.37 million of 0% autocallable accelerated barrier notes due Oct. 16, 2026 linked to the Invesco QQQ Trust, Series 1, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 13.25% if the worst performing ETF closes at or above its initial value on Feb. 24, 2025.
If the worst performing ETF gains, the payout at maturity will be par plus 200% of that ETF’s return.
Investors will receive par if the worst performing ETF declines but ends at or above its 50% barrier and will lose 1% for every 1% that the worst performing ETF declines if it finishes below the barrier level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable accelerated barrier notes
|
| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
|
| Amount: | $6,365,000
|
| Maturity: | Oct. 16, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above its initial value, par plus 200% of that ETF’s return; if worst performing ETF declines but finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
|
| Call: | Automatically at a premium of 13.25% if the worst performing ETF closes at or above its initial value on Feb. 24, 2025
|
| Initial level: | $428.55 for Invesco QQQ Trust, Series 1, $494.08 for SPDR S&P 500, $194.61 for iShares Russell 2000 ETF
|
| Upside leverage: | 200%
|
| Downside threshold: | $214.275 for Invesco QQQ Trust, Series 1, $247.04 for SPDR S&P 500, $97.305 for iShares Russell 2000 ETF, 50% of initial levels
|
| Strike date: | Feb. 13
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.53%
|
| Cusip: | 48134WKH9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
