Published on 1/18/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.12 million callable contingent interest notes on indexes, ETF
New York, Jan. 18 – JPMorgan Chase Financial Co. LLC priced $1.12 million of callable contingent interest notes due Dec. 31, 2026 linked to the Euro Stoxx 50 index, the MSCI Emerging Markets 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 8.4%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly review date starting July 2, 2024.
If the worst performing asset finishes at or above its 60% 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 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
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Guarantor: | JPMorgan Chase & Co.
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Issue: | Callable contingent interest notes
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Underlying assets: | Euro Stoxx 50 index, MSCI Emerging Markets index and Utilities Select Sector SPDR Fund
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Amount: | $1.12 million
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Maturity: | Dec. 31, 2026
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Coupon: | 8.4%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly 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 quarterly review date starting July 2, 2024
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Initial levels: | 4,528.38 for Euro Stoxx 50, 1,009.84 for MSCI Emerging Markets, $62.96 for Utilities Select Sector SPDR Fund
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Downside thresholds: | 2,717.028 for Euro Stoxx 50, 605.904 for MSCI Emerging Markets, $37.776 for Utilities Select Sector SPDR Fund, 60% of initial levels
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Pricing date: | Dec. 27
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Settlement date: | Jan. 2
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48134TEC4
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