Published on 1/9/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $6.14 million callable contingent interest notes on indexes, ETF
New York, Jan. 9 – JPMorgan Chase Financial Co. LLC priced $6.14 million of callable contingent interest notes due Jan. 7, 2027 linked to the MSCI Emerging Markets index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly review date starting July 8, 2024.
If the worst performing asset finishes at or above its 65% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from its initial 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: | MSCI Emerging Markets index, Russell 2000 index and Utilities Select Sector SPDR Fund
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Amount: | $6,141,000
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Maturity: | Jan. 7, 2027
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Coupon: | 9.75%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly 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; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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Call option: | At par on any quarterly review date starting July 8, 2024
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Initial levels: | 1,016.38 for MSCI Emerging Markets, 2,012.795 for Russell 2000, $64.25 for Utilities Select Sector SPDR Fund
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Downside thresholds: | 660.647 for MSCI Emerging Markets, 1,308.31675 for Russell 2000, $41.7625 for Utilities Select Sector SPDR Fund, 65% of initial levels
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Coupon barriers: | 711.466 for MSCI Emerging Markets, 1,408.9565 for Russell 2000, $44.975 for Utilities Select Sector SPDR Fund, 70% of initial levels
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Pricing date: | Jan. 2
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Settlement date: | Jan. 5
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1.75%
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Cusip: | 48134TFF6
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