Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.6 million review notes linked to Dow, Russell, S&P
New York, April 25 – JPMorgan Chase Financial Co. LLC priced $2.6 million of 0% review notes due April 17, 2029 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 10.65% per year if the worst performing index closes at or above its call level on any annual review date. Call level will be 100% of initial level for the first four review dates, stepping down to 90% of initial level for the final date.
If the worst performing index ends at or above its 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines 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 indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $2,597,000
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| Maturity: | April 17, 2029
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| Coupon: | 0%
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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; otherwise, 1% loss for every 1% that worst performing index declines from its initial level
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| Call: | Automatically at a premium of 10.65% per year if the worst performing index closes at or above its call level on any annual review date; call level will be equal to initial level for the first four review dates, stepping down to 90% of initial level for the final one
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| Initial levels: | 37,983.24 for Dow Jones industrial average, 2,003.174 for Russell 2000, 5,123.41 for S&P 500
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| Downside thresholds: | 26,588.268 for Dow Jones industrial average, 1,402.2118 for Russell 2000, 3,586.387 for S&P 500, 70% 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: | 1.125%
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| Cusip: | 48134XSQ9
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