Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.89 million 7.25% autocallable contingent interest notes on indexes
Chicago, May 1 – JPMorgan Chase Financial Co. LLC priced $2.89 million of autocallable contingent interest notes due July 30, 2026 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a quarterly coupon of 7.25% if the worst performing index closes at or above its 80% coupon barrier on the related valuation date.
The securities will be called automatically at par starting July 26, 2024 and on any subsequent quarterly review date if all three indexes close above their initial values.
At maturity the payout will be par unless the worst performing index closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
Amount: | $2.89 million
|
Maturity: | July 30, 2026
|
Coupon: | 7.25% annual rate, payable quarterly if the worst performing index closes at or above its 80% coupon barrier on the related valuation date
|
Price: | Par
|
Payout at maturity: | Par unless the worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
|
Call: | Automatically at par starting July 26, 2024 and on any subsequent quarterly review date if all three indexes close above their initial levels
|
Initial levels: | 17,421.01 for Nasdaq, 1,978.331 for Russell, 4,890.97 for S&P
|
Coupon barriers: | 13,936.808 for Nasdaq, 1,582.6648 for Russell, 3,912.776 for S&P; 80% of initial levels
|
Trigger levels: | 12,194.707 for Nasdaq, 1,384.8317 for Russell, 3,423.679 for S&P, 70% of initial levels
|
Pricing date: | Jan. 26
|
Settlement date: | Jan. 31
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 2.33062%
|
Cusip: | 48134TZH0
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.