Published on 4/26/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.28 million review notes linked to MerQube US Tech+
New York, April 26 – JPMorgan Chase Financial Co. LLC priced $2.28 million of 0% review notes due April 20, 2029 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 19.75% per year if the index closes at or above its call value on any monthly review date starting April 24, 2025. Call value will be equal to the index’s initial level for the first 37 valuation dates, stepping down to 75% of initial level for the remainder.
If the index ends at or above its 50% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the index declines from 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 index: | MerQube US Tech+ Vol Advantage index
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| Amount: | $2,283,000
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| Maturity: | April 20, 2029
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| Coupon: | 0%
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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: | Automatically at a premium of 19.75% per year if the index closes at or above its call value on any monthly review date starting April 24, 2025; call value will be equal to initial level for the first 37 review dates, stepping down to 75% of initial level for the remainder
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| Initial level: | 9,311.97
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| Downside threshold: | 4,655.985, 50% of initial level
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2%
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| Cusip: | 48134XDR3
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