Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.64 million autocallable contingent interest notes on indexes, ETF
By William Gullotti
Buffalo, N.Y., Jan. 16 – JPMorgan Chase Financial Co. LLC priced $3.64 million of autocallable contingent interest notes due Oct. 9, 2025 linked to the least performing of the Nasdaq-100 Technology Sector index, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 12.25% if each underlier closes at or above its interest barrier level, 60% of its initial level, on the review date for that period.
The notes will be called at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date after six months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 60% trigger level.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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 assets: | Russell 2000 index, Nasdaq-100 Technology Sector index, SPDR S&P Regional Banking ETF
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| Amount: | $3.64 million
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| Maturity: | Oct. 9, 2025
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| Coupon: | 12.25% annual rate, payable monthly if each underlier closes at or above interest barrier level on review date for that period
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| Price: | Par
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| Payout at maturity: | If each underlier finishes at or above trigger level, par plus final coupon; otherwise, lose 1% for every 1% decline of worst performer from initial level
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| Call: | Automatically at par plus contingent coupon if each underlier closes at or above initial level on any quarterly review date after six months
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| Initial levels: | $51.73 for ETF, 9,122.27 for Nasdaq Tech, 1,951.142 for Russell
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| Interest barrier: | $31.038 for ETF, 5,473.362 for Nasdaq Tech, 1,170.6852 for Russell; 60% of initial levels
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| Trigger levels: | $31.038 for ETF, 5,473.362 for Nasdaq Tech, 1,170.6852 for Russell; 60% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.7%
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| Cusip: | 48134TEQ3
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