Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.61 million callable contingent interest notes on three ETFs
New York, Feb. 5 – JPMorgan Chase Financial Co. LLC priced $1.61 million of callable contingent interest notes due Jan. 28, 2027 linked to the Materials Select Sector SPDR Fund, VanEck Gold Miners ETF and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if each underlying fund closes at or above its 60% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting July 29, 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 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: | Callable contingent interest notes
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| Underlying ETFs: | Materials Select Sector SPDR Fund, VanEck Gold Miners ETF and iShares Russell 2000 Value ETF
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| Amount: | $1,607,000
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| Maturity: | Jan. 28, 2027
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| Coupon: | 11%, paid monthly, if each underlying fund closes at or above its 60% 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 its initial level
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| Call option: | At par on any monthly review date starting July 29, 2024
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| Initial levels: | $81.62 for Materials Select Sector SPDR Fund, $27.70 for VanEck Gold Miners ETF, $149.47 for iShares Russell 2000 Value ETF
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| Downside thresholds: | $40.81 for Materials Select Sector SPDR Fund, $13.85 for VanEck Gold Miners ETF, $74.735 for iShares Russell 2000 Value ETF, 50% of initial levels
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| Coupon barriers: | $48.972 for Materials Select Sector SPDR Fund, $16.62 for VanEck Gold Miners ETF, $89.682 for iShares Russell 2000 Value ETF, 60% of initial levels
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 29
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.92075%
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| Cusip: | 48134TD50
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