Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $9.91 million 10.35% contingent income callable notes on indexes
New York, Feb. 15 – JPMorgan Chase Financial Co. LLC priced $9.91 million of contingent income callable securities due Feb. 12, 2026 linked to the Nikkei 225 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.35% if each underlying index closes at or above its 75% coupon barrier every day that quarter.
The securities may be called at par and on any subsequent determination date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the contingent coupon, if any. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley will act as distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Nikkei 225 index, Russell 2000 index and S&P 500 index
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| Amount: | $9.91 million
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| Maturity: | Feb. 12, 2026
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| Coupon: | 10.35% if each underlying index closes at or above its 75% coupon barrier every day that quarter
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | At par and on any subsequent determination date
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| Initial levels: | 36,897.42 for Nikkei 225, 2,009.992for Russell 2000, 5,026.61for S&P 500
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| Coupon barriers: | 27,673.06 5for Nikkei 225, 1,507.494 for Russell 2000, 3,769.9575 for S&P 500, 75% of initial levels
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| Downside thresholds: | 25,828.194 for Nikkei 225, 1,406.9944 for Russell 2000, 3,518.627 for S&P 500, 70% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley
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| Fees: | 2%
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| Cusip: | 48134TR30
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