Published on 2/2/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $405,000 20.5% callable contingent interest notes linked to stocks
Chicago, Feb. 2 – JPMorgan Chase Financial Co. LLC priced $405,000 of callable contingent interest notes due Jan. 8, 2027 linked to the least performing of the common stocks of CVS Health Corp., Ford Motor Co. and Newell Brands Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.5%, paid monthly, if each underlying stock closes at or above its 60% coupon trigger level on the related monthly observation date, plus any previously unpaid coupons.
The securities may be called starting July 10, 2024 at par and on any subsequent monthly review date.
If the worst performing stock 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 stock 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 stocks: | CVS Health Corp., Ford Motor Co. and Newell Brands Inc.
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| Amount: | $405,000
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| Maturity: | Jan. 8, 2027
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| Coupon: | 20.5% annual rate, paid monthly, if each underlying stock closes at or above its 60% trigger level on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Call: | Starting July 10, 2024 at par and on any subsequent monthly review date
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| Initial levels: | $81.42 for CVS, $11.85 for Ford, $8.41 for Newell
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| Coupon trigger levels: | $48.852 for CVS, $7.11 for Ford, $5.046 for Newell, 60% of initial levels
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| Downside thresholds: | $48.852 for CVS, $7.11 for Ford, $5.046 for Newell, 60% of initial levels
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| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.85%
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| Cusip: | 48134TQU1
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