Published on 2/21/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $4.61 million 12% callable contingent interest notes on indexes, ETF
New York, Feb. 21 – JPMorgan Chase Financial Co. LLC priced $4.61 million of callable contingent interest notes due Aug. 18, 2025 linked to the Russell 2000 index, S&P 500 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
If the worst performing asset gains or ends above its 50% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
The securities may be called starting Aug. 16, 2024 at par and on any subsequent monthly review date.
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: | Russell 2000 index, S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $4,609,000
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| Maturity: | Aug. 18, 2025
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| Coupon: | 12%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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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; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | Starting Aug. 16, 2024 at par and on any subsequent monthly review date
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| Initial levels: | 1,964.174 for Russell 2000, 4,953.17 for S&P 500, $46.83 for SPDR S&P Regional Banking ETF
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| Downside thresholds: | 982.087 for Russell 2000, 2,476.585 for S&P 500, $23.415 for SPDR S&P Regional Banking ETF, 50% of initial level
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| Coupon barriers: | 1,374.9218 for Russell 2000, 3,467.219 for S&P 500, $32.781 for SPDR S&P Regional Banking ETF, 70% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.62492%
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| Cusip: | 48134WES2
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