Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.07 million callable contingent interest notes on fund, indexes
Chicago, May 1 – JPMorgan Chase Financial Co. LLC priced $1.07 million of callable contingent interest notes due Jan. 31, 2028 linked to the least performing of the Energy Select Sector SPDR Fund, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly, if each underlier closes at or above its 70% interest barrier level on the related monthly observation date.
The securities may be called starting Jan. 30, 2025 at par and on any subsequent monthly review date.
If the worst performing asset gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold 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: | Callable contingent interest notes
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Underlying assets: | Energy Select Sector SPDR Fund, Russell 2000 index and S&P 500 index
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Amount: | $1,065,000
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Maturity: | Jan. 31, 2028
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Coupon: | 9.5% annual rate, paid monthly, if each underlier closes at or above its 70% interest barrier level on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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Call: | Starting Jan. 30, 2025 at par and on any subsequent monthly review date
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Initial levels: | $84.25 for energy fund, 1,978.331 for Russell, 4,890.97 for S&P
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Interest barrier levels: | $58.975 for energy fund, 1,384.8317 for Russell, 3,423.679 for S&P, 70% of initial levels
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Downside thresholds: | $58.975 for energy fund, 1,384.8317 for Russell, 3,423.679 for S&P, 70% of initial levels
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.75%
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Cusip: | 48134TYC2
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