Published on 1/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.55 million callable contingent interest notes on three ETFs
New York, Jan. 23 – JPMorgan Chase Financial Co. LLC priced $1.55 million of callable contingent interest notes due Jan. 22, 2027 linked to the Technology Select Sector SPDR Fund, the Utilities Select Sector SPDR Fund and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.84%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting July 19, 2024.
If the worst performing ETF finishes at or above its 50% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing 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: | Callable contingent interest notes
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| Underlying ETFs: | Technology Select Sector SPDR Fund, Utilities Select Sector SPDR Fund and VanEck Gold Miners ETF
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| Amount: | $1.55 million
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| Maturity: | Jan. 22, 2027
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| Coupon: | 12.84%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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| Call: | Starting July 19, 2024 at par on any monthly review date
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| Initial levels: | $192.72 for Technology Select Sector SPDR Fund, $62.63 for Utilities Select Sector SPDR Fund, $28.39 for VanEck Gold Miners ETF
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| Downside thresholds: | $96.36 for Technology Select Sector SPDR Fund, $31.315 for Utilities Select Sector SPDR Fund, $14.195 for VanEck Gold Miners ETF, 50% of initial levels
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| Coupon barriers: | $134.904 for Technology Select Sector SPDR Fund, $43.841 for Utilities Select Sector SPDR Fund, $19.873 for VanEck Gold Miners ETF, 70% of initial levels
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| Pricing date: | Jan. 16
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| Settlement date: | Jan. 19
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.95%
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| Cusip: | 48134TQQ0
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