Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $2.84 million autocallable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., April 22 – JPMorgan Chase Financial Co. LLC priced $2.84 million of autocallable contingent interest notes due Oct. 21, 2025 linked to the least performing of the Nasdaq-100 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 8.1% if each underlier closes at or above its interest barrier level, 50% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any monthly review date other than the first, second and final review dates.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 50% trigger level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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: | Autocallable contingent interest notes
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Underlying assets: | Russell 2000 index, Nasdaq-100 index, VanEck Gold Miners ETF
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Amount: | $2,839,000
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Maturity: | Oct. 21, 2025
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Coupon: | 8.1% annual rate, payable monthly if each underlier closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | If each underlier finishes at or above trigger level, par plus final coupon; otherwise, lose 1% for every 1% decline of worst performer from initial level
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly review date other than the first, second and final dates
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Initial levels: | $33.03 for ETF, 17,713.66 for Nasdaq, 1,967.475 for Russell
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Interest barrier: | $16.515 for ETF, 8,856.83 for Nasdaq, 983.7375 for Russell; 50% of initial levels
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Trigger levels: | $16.515 for ETF, 8,856.83 for Nasdaq, 983.7375 for Russell; 50% of initial levels
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Pricing date: | April 16
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Settlement date: | April 19
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.5%
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Cusip: | 48134XXR1
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