Published on 1/3/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.05 million autocallable contingent interest notes on three ETFs
New York, Jan. 3 – JPMorgan Chase Financial Co. LLC priced $1.05 million of autocallable contingent interest notes due Dec. 24, 2026 linked to the SPDR S&P Regional Banking ETF, the Utilities Select Sector SPDR Fund and the iShares Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly observation date.
The securities will be called automatically at par if each ETF closes at or above its initial level on any monthly review date starting March 21, 2024.
At maturity, the payout will be par unless the worst performing ETF finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the worst performing ETF.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
Issuer: | JPMorgan Chase Financial Co. LLC
|
Guarantor: | JPMorgan Chase & Co.
|
Issue: | Autocallable contingent interest notes
|
Underlying ETFs: | SPDR S&P Regional Banking ETF, Utilities Select Sector SPDR Fund and iShares Semiconductor ETF
|
Amount: | $1,046,000
|
Maturity: | Dec. 24, 2026
|
Coupon: | 9%, paid monthly, if each underlying fund closes at or above its 70% trigger level on the related monthly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the worst performing ETF finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing ETF
|
Call: | Automatically at par if each ETF closes at or above its initial level on any monthly review date starting March 21, 2024
|
Initial levels: | $52.08 for SPDR S&P Regional Banking ETF, $62.41 for Utilities Select Sector SPDR Fund, $568.07 for iShares Semiconductor ETF
|
Trigger levels: | $36.456 for SPDR S&P Regional Banking ETF, $43.687 for Utilities Select Sector SPDR Fund, $397.649 for iShares Semiconductor ETF, 70% of initial levels
|
Call threshold: | 95% of initial levels
|
Pricing date: | Dec. 21
|
Settlement date: | Dec. 27
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | 3.25%
|
Cusip: | 48134R2B3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.