Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.68 million callable contingent interest notes on indexes, ETF
New York, March 11 – JPMorgan Chase Financial Co. LLC priced $1.68 million of callable contingent interest notes due Aug. 29, 2025 linked to the Russell 2000 index, the S&P 500 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.3%, paid monthly, if each underlier 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 May 31.
If the worst performing asset finishes at or above its 65% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 assets: | Russell 2000 index, S&P 500 index and VanEck Gold Miners ETF
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Amount: | $1,675,000
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Maturity: | Aug. 29, 2025
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Coupon: | 9.3%, paid monthly, if each underlier 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 asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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Call option: | At par on any monthly review date starting May 31
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Initial levels: | 2,028.968 for Russell 2000, 5,069.53 for S&P 500, $26.25 for VanEck Gold Miners ETF
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Downside thresholds: | 1,318.8292 for Russell 2000, 3,295.1945 for S&P 500, $17.0625 for VanEck Gold Miners ETF, 65% of initial levels
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Coupon barriers: | 1,420.2776 for Russell 2000, 3,548.671 for S&P 500, $18.375 for VanEck Gold Miners ETF, 70% of initial levels
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Pricing date: | Feb. 26
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Settlement date: | Feb. 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.15%
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Cusip: | 48134WQH3
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