Published on 1/9/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.68 million callable contingent interest notes on indexes, ETF
New York, Jan. 9 – JPMorgan Chase Financial Co. LLC priced $1.68 million of callable contingent interest notes due Dec. 4, 2025 linked to the Nasdaq-100 Technology Sector index, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if each underlier 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 April 4, 2024.
If the worst performing asset finishes at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from its initial 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: | Nasdaq-100 Technology Sector index, Russell 2000 index and SPDR S&P Regional Banking ETF
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Amount: | $1,679,000
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Maturity: | Dec. 4, 2025
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Coupon: | 13.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier 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; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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Call option: | At par on any monthly review date starting April 4, 2024
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Initial levels: | 9,587.92 for Nasdaq-100 Technology Sector, 2,027.074 for Russell 2000, $52.43 for SPDR S&P Regional Banking ETF
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Downside thresholds: | 5,752.752 for Nasdaq-100 Technology Sector, 1,216.2444 for Russell 2000, $31.458 for SPDR S&P Regional Banking ETF, 60% of initial levels
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Coupon barriers: | 6,711.544 for Nasdaq-100 Technology Sector, 1,418.9518 for Russell 2000, $36.701 for SPDR S&P Regional Banking ETF, 70% of initial levels
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Pricing date: | Dec. 29
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Settlement date: | Jan. 4
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.71674%
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Cusip: | 48134TES9
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