Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $862,000 9.1% callable contingent interest notes on index, funds
Chicago, April 22 – JPMorgan Chase Financial Co. LLC priced $862,000 of callable contingent interest notes due Jan. 28, 2027 linked to the least performing of the S&P 500 Equal Weight index, Utilities Select Sector SPDR Fund and Vanguard Real Estate ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.1%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting July 29, 2024 at par and on any subsequent monthly review date.
If the worst performing asset gains or loses no more than its 20% buffer at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines beyond the buffer.
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 assets: | S&P 500 Equal Weight index, Utilities Select Sector SPDR Fund and Vanguard Real Estate ETF
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| Amount: | $862,000
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| Maturity: | Jan. 28, 2027
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| Coupon: | 9.1% annual rate, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing asset gains or declines by no more than the buffer, par; 1% loss for every 1% that worst performing asset declines beyond the buffer
|
| Call: | Starting July 29, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 6,323.42 for Equal Weight, $59.95 for utilities, $84.10 for real estate
|
| Coupon barrier levels: | 4,742.565 for Equal Weight, $44.9625 for utilities, $63.075 for real estate; 75% of initial levels
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| Buffer levels: | 5,058.736 for Equal Weight, $47.96 for utilities, $67.28 for real estate; 80% of initial levels
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| Buffer: | 20%
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48134TWK6
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