Published on 2/9/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.53 million callable contingent interest notes on three indexes
By William Gullotti
Buffalo, N.Y., Feb. 9 – JPMorgan Chase Financial Co. LLC sold $4.53 million of callable contingent interest notes due Jan. 27, 2027 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, 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 7.04% if each index closes at or above its interest barrier level, 75% of its initial level, on the relevant review date.
After six months, the notes will be callable at par plus any coupon otherwise due on any monthly call date.
The payout at maturity will be par plus the final coupon if each index finishes at or above its interest barrier.
If the worst performing index finishes below its interest barrier but at or above the 70% trigger value, the payout will be par. Otherwise, investors will lose 1% for each 1% decline of the worst performing index 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: | Callable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $4,533,000
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| Maturity: | Jan. 27, 2027
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| Coupon: | 7.04% annualized, payable monthly if each underlying index closes at or above interest barrier level on relevant review date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above interest barrier; if worst performer finishes below interest barrier but at or above trigger level, par; otherwise, 1% loss for each 1% decline of worst performer from initial level
|
| Call option: | At par plus any coupon due on any monthly call date after six months
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| Initial levels: | 38,001.81 for Dow, 1,983.381 for Russell, 4,850.43 for S&P
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| Interest barriers: | 28,501.3575 for Dow, 1,487.53575 for Russell, 3,637.8225 for S&P; 75% of initial levels
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| Trigger values: | 26,601.267 for Dow, 1,388.3667 for Russell, 3,395.301 for S&P; 70% of initial levels
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.75%
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| Cusip: | 48134TWJ9
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