Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $6.06 million autocallable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Feb. 23 – JPMorgan Chase Financial Co. LLC priced $6.06 million of autocallable contingent interest notes due Jan. 14, 2026 linked to the least performing of the Nasdaq-100 Technology Sector index, the Dow Jones industrial average and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 10.2% if each underlier closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par plus the contingent coupon if each underlier closes at or above its initial level on any monthly review date other than the first through fifth and final review dates.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 60% trigger level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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 assets: | Dow Jones industrial average, Nasdaq-100 Technology Sector index, SPDR S&P Regional Banking ETF
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Amount: | $6,059,000
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Maturity: | Jan. 14, 2026
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Coupon: | 10.2% annual rate, payable monthly if each underlier closes at or above interest barrier level on review date for that period
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Price: | Par
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Payout at maturity: | If each underlier finishes at or above trigger level, par plus final coupon; otherwise, lose 1% for every 1% decline of worst performer from initial level
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Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any monthly review date other than the first through fifth and final dates
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Initial levels: | $47.87 for ETF, 10,435.12 for Nasdaq Tech, 38,671.69 for Dow
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Interest barrier: | $28.722 for ETF, 6,261.072 for Nasdaq Tech, 23,203.014 for Dow; 60% of initial levels
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Trigger levels: | $28.722 for ETF, 6,261.072 for Nasdaq Tech, 23,203.014 for Dow; 60% of initial levels
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Pricing date: | Feb. 9
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Settlement date: | Feb. 14
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48134T2S2
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