Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.56 million review notes tied to AMD, Alphabet, Adobe
By William Gullotti
Buffalo, N.Y., April 25 – JPMorgan Chase Financial Co. LLC priced $2.56 million of 0% review notes due April 18, 2028 linked to the performance of the stocks of Advanced Micro Devices, Inc., Alphabet Inc. and Adobe Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 23% if each stock closes at or above its 90% call level on any monthly review date after one year.
If the notes are not called and each stock finishes at or above its 60% trigger level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer 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: | Review notes
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| Underlying stocks: | Advanced Micro Devices, Inc., Alphabet Inc., Adobe Inc.
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| Amount: | $2,563,000
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| Maturity: | April 18, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above trigger level, par; otherwise, 1% loss for each 1% decline of worst performing stock from its initial level
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| Call: | At par plus 23% per year if each stock closes at or above call level on any monthly review date after one year; call level is equal to 90% of initial level
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| Initial levels: | $163.28 for AMD, $159.19 for Alphabet, $474.09 for Adobe
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| Trigger levels: | $97.968 for AMD, $95.514 for Alphabet, $284.454 for Adobe; 60% of initial levels
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| Pricing date: | April 12
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| Settlement date: | April 17
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | None
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| Cusip: | 48134XWH4
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