Published on 1/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.38 million callable contingent interest notes on indexes, ETF
New York, Jan. 23 – JPMorgan Chase Financial Co. LLC priced $1.38 million of callable contingent interest notes due Jan. 13, 2028 linked to the Nasdaq-100 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, 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 April 15.
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 iShares MSCI Emerging Markets ETF
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| Amount: | $1,376,000
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| Maturity: | Jan. 13, 2028
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| Coupon: | 10.5%, 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 April 15
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| Initial levels: | 16,793.04 for Nasdaq-100, 1,970.261 for Russell 2000, $38.90 for iShares MSCI Emerging Markets ETF
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| Downside thresholds: | 10,915.476 for Nasdaq-100, 1,280.66965 for Russell 2000, $25.285 for iShares MSCI Emerging Markets ETF, 65% of initial levels
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| Coupon barriers: | 11,755.128 for Nasdaq-100, 1,379.1827 for Russell 2000, $27.23 for iShares MSCI Emerging Markets ETF, 70% of initial levels
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| Strike date: | Jan. 10
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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: | 0.35%
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| Cusip: | 48134TUB8
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