Chicago, Jan. 31 – JPMorgan Chase Financial Co. LLC priced $1.5 million of autocallable contingent interest notes due Jan. 13, 2027 linked to the lesser performing of the Utilities Select Sector SPDR Fund and iShares U.S. Real Estate ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically starting July 8, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing ETF closes 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
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Autocallable contingent interest notes
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| Underlying ETFs: | Utilities Select Sector SPDR Fund and iShares U.S. Real Estate ETF
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| Amount: | $1.5 million
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| Maturity: | Jan. 13, 2027
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| Coupon: | 9% annual rate, paid quarterly, if each underlying fund closes at or above its 70% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically starting July 8, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | $65.00 for utilities, $90.95 for real estate
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| Trigger levels: | $45.50 for utilities, $63.665 for real estate, 70% of initial levels
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| Pricing date: | Jan. 8
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| Settlement date: | Jan. 11
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.35%
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| Cusip: | 48134TQX5
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