Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.25 million 12.5% callable contingent interest notes on indexes, ETF
Chicago, Jan. 30 – JPMorgan Chase Financial Co. LLC priced $1.25 million of callable contingent interest notes due Dec. 28, 2028 linked to the least performing of the MSCI EAFE index, MSCI Emerging Markets index and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid monthly, if each underlier closes at or above its 70% trigger level on the related monthly observation date.
The securities may be called starting March 27 at par and on any subsequent monthly review date.
If the worst performing asset gains or ends above its 70% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold 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: | MSCI EAFE index, MSCI Emerging Markets index and iShares Russell 2000 ETF
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| Amount: | $1.25 million
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| Maturity: | Dec. 28, 2028
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| Coupon: | 12.5% annual rate, 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: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Starting March 27 at par and on any subsequent monthly review date
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| Initial levels: | 2,211.19 for EAFE, 992.28 for EM, $201.48 for Russell ETF
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| Downside thresholds: | 1,547.833 for EAFE, 694.596 for EM, $141.036 for Russell ETF, 70% of initial levels
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.03%
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| Cusip: | 48134TSU9
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