Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.71 million autocallable contingent interest notes on indexes, ETF
New York, March 20 – JPMorgan Chase Financial Co. LLC priced $4.71 million of autocallable contingent interest notes due Feb. 18, 2026 linked to the Nasdaq-100 Technology Sector index, the S&P 500 index and the Vanguard Information Technology ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.55%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting March 12, 2025.
At maturity, the payout will be par unless the worst performing asset finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the worst performing asset.
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: | Autocallable contingent interest notes
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Underlying assets: | Nasdaq-100 Technology Sector index, S&P 500 index and Vanguard Information Technology ETF
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Amount: | $4.71 million
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Maturity: | Feb. 18, 2026
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Coupon: | 10.55%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any monthly review date starting March 12, 2025
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Initial levels: | 10,530.35 for Nasdaq-100 Technology Sector, 5,175.27 for S&P 500, $530.00 for Vanguard Information Technology ETF
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Trigger levels: | 7,371.245 for Nasdaq-100 Technology Sector, 3,622.689 for S&P 500, $371.00 for Vanguard Information Technology ETF, 70% of initial levels
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Coupon barriers: | 8,424.28 for Nasdaq-100 Technology Sector, 4,140.216 for S&P 500, $424.00 for Vanguard Information Technology ETF, 80% of initial levels
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Pricing date: | March 12
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Settlement date: | March 15
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.725%
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Cusip: | 48134WUC9
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