Published on 12/14/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.19 million autocallable contingent interest notes on MerQube index
New York, Dec. 14 – JPMorgan Chase Financial Co. LLC priced $2.19 million of autocallable contingent interest notes due Dec. 12, 2028 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.6%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the index closes at or above 90% of initial level on any monthly review date starting Dec. 9, 2024.
At maturity, the payout will be par unless the index declines by more than 15%, in which case investors will lose 1% for each 1% decline beyond 15%.
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 index: | MerQube US Tech+ Vol Advantage index
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Amount: | $2,186,000
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Maturity: | Dec. 12, 2028
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Coupon: | 9.6%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the index declines by more than 15%, in which case investors lose 1% for each 1% decline beyond 15%
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Call: | Automatically at par if the index closes at or above 90% of initial level on any monthly review date starting Dec. 9, 2024
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Initial level: | 8,704.14
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Buffer: | 15%
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Buffer level: | 7,398.519, 85% of initial level
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Coupon barrier: | 6,092.898, 70% of initial level
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Pricing date: | Dec. 7
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Settlement date: | Dec. 12
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.9%
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Cusip: | 48134R6E3
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