Published on 5/1/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.04 million 8.6% callable contingent interest notes on indexes
Chicago, May 1 – JPMorgan Chase Financial Co. LLC priced $1.04 million of callable contingent interest notes due July 31, 2025 linked to the least performing of the Nasdaq-100 Technology Sector index, 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 8.6% paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date.
The securities may be called at par starting May 1 and on any subsequent monthly review date.
If the worst performing index gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 Technology Sector index, Russell 2000 index and S&P 500 index
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Amount: | $1,038,000
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Maturity: | July 31, 2025
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Coupon: | 8.6% annual rate, paid monthly if the worst performing index closes at or above its 70% coupon barrier on the related valuation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | At par starting May 1 and on any subsequent monthly review date
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Initial levels: | 9,947.71 for tech index, 1,978.331 for Russell, 4,890.97 for S&P
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Coupon barriers: | 6,963.397 for tech index, 1,384.8317 for Russell, 3,423.679 for S&P, 70% of initial levels
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Downside thresholds: | 5,968.626 for tech index, 1,186.9986 for Russell, 2,934.582 for S&P, 60% 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: | 0.725%
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Cusip: | 48134TE26
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