Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.79 million 10.5% callable contingent interest notes on funds
Chicago, Feb. 29 – JPMorgan Chase Financial Co. LLC priced $2.79 million of callable contingent interest notes due Feb. 4, 2027 linked to the least performing of the Technology Select Sector SPDR Fund, iShares 20+ Year Treasury Bond ETF and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlying fund closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting May 6 at par and on any subsequent monthly review date.
If the worst performing ETF gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing ETF declines if it finishes below its downside threshold 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 ETFs: | Technology Select Sector SPDR Fund, iShares 20+ Year Treasury Bond ETF and iShares Russell 2000 ETF
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| Amount: | $2,791,000
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| Maturity: | Feb. 4, 2027
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| Coupon: | 10.5% annual rate, paid monthly, if each underlying fund 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 ETF finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing ETF declines if it finishes below its downside threshold level
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| Call: | At par starting May 6 at par and on any subsequent monthly review date
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| Initial levels: | $200.17 for tech, $98.24 for Treasury, $195.44 for Russell ETF
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| Coupon barriers: | $140.119 for tech, $68.768 for Treasury, $136.808 for Russell ETF, 70% of initial levels
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| Downside thresholds: | $120.102 for tech, $58.944 for Treasury, $117.264 for Russell ETF, 60% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.6%
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| Cusip: | 48134WAY3
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