New York, Feb. 9 – JPMorgan Chase Financial Co. LLC priced $7.22 million of 0% review notes due Feb. 10, 2027 linked to the VanEck Oil Services ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically at a premium of 14.75% per year if the ETF closes at or above its call level on any quarterly review date starting Aug. 5, 2024. Call level is equal to 100% of initial level for the first three review dates, stepping down to 95% of initial level for the fourth through seventh and to 90% for the eighth through final ones.
If the notes are not called and the ETF ends at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the ETF 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 ETF: | VanEck Oil Services ETF
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Amount: | $7,223,000
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Maturity: | Feb. 10, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that ETF declines from initial level
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Call: | Automatically at a premium of 14.75% per year if the ETF closes at or above its call level on any quarterly review date starting Aug. 5, 2024; call level is equal to 100% of initial level for the first three review dates, stepping down to 95% of initial level for the fourth through seventh and to 90% for the eighth through final ones
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Initial level: | $282.55
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Downside threshold: | $169.53, 60% of initial level
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Pricing date: | Feb. 5
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Settlement date: | Feb. 8
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2%
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Cusip: | 48134TJ70
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