Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million callable contingent interest notes on indexes, ETF
New York, March 27 – JPMorgan Chase Financial Co. LLC priced $1 million of callable contingent interest notes due Dec. 26, 2025 linked to the Nasdaq-100 index, the Russell 2000 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 8.6%, paid monthly, if each underlier closes at or above its 80% downside threshold on the related monthly observation date.
The securities may be called at par on any monthly review date starting Sept. 25, 2024.
If the worst performing asset finishes at or above its downside threshold, the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing asset declines beyond 20%.
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: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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Amount: | $1 million
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Maturity: | Dec. 26, 2025
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Coupon: | 8.6%, paid monthly, if each underlier closes at or above its 80% downside threshold 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 downside threshold, par; otherwise, 1% loss for every 1% that worst performing asset declines beyond 20%
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Call option: | At par on any monthly review date starting Sept. 25, 2024
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Initial levels: | 18,240.11 for Nasdaq-100, 2,074.880 for Russell 2000, $63.87 for Utilities Select Sector SPDR Fund
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Downside thresholds: | 14,592.088 for Nasdaq-100, 1,659.904 for Russell 2000, $51.096 for Utilities Select Sector SPDR Fund, 80% of initial levels
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Buffer: | 20%
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Pricing date: | March 20
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Settlement date: | March 25
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.725%
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Cusip: | 48134WR41
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