Published on 1/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.15 million autocallable contingent interest notes on indexes, ETF
New York, Jan. 23 – JPMorgan Chase Financial Co. LLC priced $2.15 million of autocallable contingent interest notes due July 21, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75%, paid monthly, if each underlier closes at or above its 70% trigger level 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 April 16.
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: | Dow Jones industrial average, S&P 500 index and Utilities Select Sector SPDR Fund
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Amount: | $2.15 million
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Maturity: | July 21, 2025
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Coupon: | 8.75%, paid monthly, if each underlier closes at or above its 70% trigger level 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 April 16
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Initial levels: | 37,361.12 for Dow Jones industrial average, 4,765.98 for S&P 500, $62.63 for Utilities Select Sector SPDR Fund
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Trigger levels: | 26,152.784 for Dow Jones industrial average, 3,336.186 for S&P 500, $43.841 for Utilities Select Sector SPDR Fund, 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: | 0.5%
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Cusip: | 48134TRG1
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