Published on 1/18/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.51 million autocallable contingent interest notes on two indexes
New York, Jan. 18 – JPMorgan Chase Financial Co. LLC priced $2.51 million of autocallable contingent interest notes due Jan. 2, 2025 linked to 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%, paid quarterly, if each underlying index closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically at par on any quarterly review date if each index closes at or above its initial level.
If the notes have not been called, the payout at maturity will be par unless either index closes below its trigger level on any trading day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the laggard index declines from 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: | Autocallable contingent interest notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $2,508,000
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| Maturity: | Jan. 2, 2025
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| Coupon: | 9%, paid quarterly, if each underlying index 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 either index closes below its trigger level on any trading day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the laggard index declines from initial level
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| Call: | Automatically at par on any quarterly review date if each index closes at or above its initial level
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| Initial levels: | 2,066.214 for Russell 2000, 4,781.58 for S&P 500
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| Trigger levels: | 1,446.3498 for Russell 2000, 3,347.106 for S&P 500, 70% of initial level
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| Pricing date: | Dec. 27
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| Settlement date: | Jan. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48134TEA8
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