Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $8.7 million contingent income callable securities on three indexes
New York, April 25 – JPMorgan Chase Financial Co. LLC priced $8.7 million of contingent income callable securities due April 23, 2026 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on every trading day during the observation period.
The securities may be called at par on any quarterly determination date.
If the worst performing index finishes at or above its 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley Wealth Management will act as distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $8.7 million
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| Maturity: | April 23, 2026
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| Coupon: | 9.8%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on every trading day during the observation period
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any quarterly determination date
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| Initial levels: | 4,918.09 for Euro Stoxx 50, 1,947.656 for Russell 2000, 4,967.23 for S&P 500
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| Downside thresholds: | 3,442.663 for Euro Stoxx 50, 1,363.3592 for Russell 2000, 3,477.061 for S&P 500, 70% of initial levels
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| Pricing date: | April 19
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| Settlement date: | April 24
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 48134XM51
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