Published on 5/2/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.13 million autocallable capped accelerated barrier notes on indexes
By William Gullotti
Buffalo, N.Y., May 2 – JPMorgan Chase Financial Co. LLC priced $3.13 million of 0% autocallable capped accelerated barrier notes due Jan. 30, 2029 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be called at par plus 18% if each index closes at or above 105% of its initial level on May 2, 2025.
If each index finishes at or above its initial level, the payout at maturity will be par plus 300% of the return of the least-performing index, subject to a maximum return of par plus 95%.
If the worst performer falls but finishes at or above the 70% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the worst performer’s decline from its initial level.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable capped accelerated barrier notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $3,132,000
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| Maturity: | Jan. 30, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above its initial level, par plus 300% of the return of the least-performing index, capped at par plus 95%; if the worst performer falls but finishes at or above barrier level, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
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| Call: | At par plus 18% if each index closes at or above 105% of initial level on May 2, 2025
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| Initial levels: | 38,085.8 for Dow, 1,981.118 for Russell, 17,430.5 for Nasdaq
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| Barrier levels: | 26,660.06 for Dow, 1,386.7826 for Russell, 12,201.35 for Nasdaq; 70% of initial levels
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.97685%
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| Cusip: | 48134XK46
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