Published on 1/1/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $1.72 million 10.2% callable contingent interest notes on indexes, fund
Chicago, Jan. 2 – JPMorgan Chase Financial Co. LLC priced $1.72 million of callable contingent interest notes due Sept. 11, 2025 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.2%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting March 13, 2024 at par and on any subsequent monthly review date.
If the worst performing asset gains or ends above its 65% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset 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 assets: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $1.72 million
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| Maturity: | Sept. 11, 2025
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| Coupon: | 10.2% annual rate, paid monthly, if each underlier 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 asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Starting March 13, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 16,084.69 for Nasdaq, 1,880.817 for Russell, $63.41 for utilities fund
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| Coupon barriers: | 11,259.283 for Nasdaq, 1,316.5719 for Russell, $44.387 for utilities fund, 70% of initial levels
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| Downside thresholds: | 10,455.0485 for Nasdaq, 1,222.53105 for Russell, $41.2165 for utilities fund, 65% of initial levels
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.71933%
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| Cusip: | 48134R6A1
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