New York, March 2 – JPMorgan Chase Financial Co. LLC priced $11.37 million of contingent income callable securities due Feb. 27, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.6% per year, payable quarterly, if the index closes at or above its 80% downside threshold level on the relevant observation date.
The securities may be called at par on any quarterly review date.
If the index finishes at or above its 80% downside threshold, the payout at maturity will be par plus the contingent coupon.
Otherwise, 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. Morgan Stanley Wealth Management will act as distributor.
Issuer: | JPMorgan Chase Financial Co. LLC
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Contingent income callable securities
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Underlying index: | S&P 500 index
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Amount: | $11.37 million
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Maturity: | Feb. 27, 2025
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Coupon: | 9.6% per year, paid quarterly if the index closes at or above its 80% downside threshold level on the relevant observation date
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Price: | Par
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Payout at maturity: | If index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that index declines from initial level
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Call option: | At par on any quarterly review date
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Initial level: | 3,970.04
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Downside threshold: | 3,176.032, 80% of initial level
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Pricing date: | Feb. 24
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Settlement date: | March 1
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Agent: | J.P. Morgan Securities LLC
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 2% including a structuring fee of 0.5%
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Cusip: | 48133UGM8
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