Published on 1/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.97 million callable contingent interest notes on indexes, ETF
New York, Jan. 19 – JPMorgan Chase Financial Co. LLC priced $1.97 million of callable contingent interest notes due Oct. 16, 2026 linked to the Nasdaq-100 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 11.1%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting July 17, 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 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: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $1,972,000
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| Maturity: | Oct. 16, 2026
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| Coupon: | 11.1%, 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; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting July 17, 2024
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| Initial levels: | 16,832.92 for Nasdaq-100, 1,950.964 for Russell 2000, $63.32 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 10,941.398 for Nasdaq-100, 1,268.1266 for Russell 2000, $41.158 for Utilities Select Sector SPDR Fund, 65% of initial levels
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| Coupon barriers: | 11,783.044 for Nasdaq-100, 1,365.6748 for Russell 2000, $44.324 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Jan. 12
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| Settlement date: | Jan. 18
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.93479%
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| Cusip: | 48134TPE8
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