Published on 3/13/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.36 million contingent interest notes linked to two stocks
By William Gullotti
Buffalo, N.Y., March 13 – JPMorgan Chase Financial Co. LLC priced $1.36 million of contingent interest notes due March 10, 2026 linked to the stock performance of UnitedHealth Group Inc. and Johnson & Johnson, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes pay a contingent quarterly coupon at a rate of 7.5% per year if each stock closes at or above its coupon barrier, 50% of its initial level, on the review date for that period.
The payout at maturity will be par plus the final coupon unless any stock finishes below its 80% trigger level, in which case investors will lose 1% for each 1% decline of the worst performer beyond 20%.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent interest notes
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| Underlying stocks: | UnitedHealth Group Inc., Johnson & Johnson
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| Amount: | $1,356,000
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| Maturity: | March 10, 2026
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| Coupon: | 7.5% annual rate, payable quarterly if each stock closes at or above its coupon barrier on the review date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any stock finishes below its trigger level, in which case investors will lose 1% for each 1% decline of worst performer beyond 20%
|
| Initial levels: | $473.15 for UnitedHealth, $159.97 for J&J
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| Coupon barriers: | $236.575 for UnitedHealth, $79.985 for J&J; 50% of initial levels
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| Trigger levels: | $378.52 for UnitedHealth, $127.976 for J&J; 80% of initial levels
|
| Strike date: | March 5
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| Pricing date: | March 6
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| Settlement date: | March 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
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| Cusip: | 48134W5B9
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