Published on 1/3/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.17 million callable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Jan. 3 – JPMorgan Chase Financial Co. LLC sold $2.17 million of callable contingent interest notes due Nov. 26, 2025 linked to the performance of the Nasdaq-100 Technology Sector index, the Russell 2000 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 8.6% if each underlier closes at or above its interest barrier level, 55% of its initial level, on the corresponding review date.
The notes will be callable at par plus any coupon otherwise due on any monthly call date other than the first through fifth and final dates.
The payout at maturity will be par plus the final coupon unless any underlier finishes below the 55% trigger value, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying assets: | Nasdaq-100 Technology Sector index, Russell 2000 index, VanEck Gold Miners ETF
|
| Amount: | $2,169,000
|
| Maturity: | Nov. 26, 2025
|
| Coupon: | 8.6% annualized, payable monthly if each underlier closes at or above interest barrier level on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any underlier finishes below trigger level, in which case 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par plus any coupon due on any monthly call date other than the first through fifth and final ones
|
| Initial levels: | $31.35 for ETF, 9,523.19 for Nasdaq Tech, 2,017.065 for Russell
|
| Interest barriers: | $17.2425 for ETF, 5,237.7545 for Nasdaq Tech, 1,109.38575 for Russell; 55% of initial levels
|
| Trigger values: | $17.2425 for ETF, 5,237.7545 for Nasdaq Tech, 1,109.38575 for Russell; 55% of initial levels
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 2.225%
|
| Cusip: | 48134RL55
|
|
|
© 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.
