Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.06 million callable contingent interest notes on three ETFs
New York, March 19 – JPMorgan Chase Financial Co. LLC priced $1.06 million of callable contingent interest notes due Sept. 17, 2025 linked to the SPDR S&P Regional Banking ETF, the iShares 20+ Year Treasury Bond ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if each underlying fund 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 June 17.
If the worst performing ETF 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 ETF 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
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying ETFs: | SPDR S&P Regional Banking ETF, iShares 20+ Year Treasury Bond ETF and iShares MSCI Emerging Markets ETF
|
| Amount: | $1,063,000
|
| Maturity: | Sept. 17, 2025
|
| Coupon: | 13.5%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing ETF finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
|
| Call option: | At par on any monthly review date starting June 17
|
| Initial levels: | $48.83 for SPDR S&P Regional Banking ETF, $94.88 for iShares 20+ Year Treasury Bond ETF, $41.36 for iShares MSCI Emerging Markets ETF
|
| Downside thresholds: | $31.7395 for SPDR S&P Regional Banking ETF, $61.672 for iShares 20+ Year Treasury Bond ETF, $26.884 for iShares MSCI Emerging Markets ETF, 65% of initial levels
|
| Coupon barriers: | $34.181 for SPDR S&P Regional Banking ETF, $66.416 for iShares 20+ Year Treasury Bond ETF, $28.952 for iShares MSCI Emerging Markets ETF, 70% of initial levels
|
| Pricing date: | March 12
|
| Settlement date: | March 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.55%
|
| Cusip: | 48134W2J5
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
