Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $530,000 10.75% autocallable contingent interest notes on ETFs, index
Chicago, Feb. 23 – JPMorgan Chase Financial Co. LLC priced $530,000 of autocallable contingent interest notes due Dec. 17, 2025 linked to the least performing of the Health Care Select Sector SPDR Fund, Russell 2000 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 10.75%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically starting July 12, 2024 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the worst performing asset closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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: | Autocallable contingent interest notes
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| Underlying assets: | Health Care Select Sector SPDR Fund, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $530,000
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| Maturity: | Dec. 17, 2025
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| Coupon: | 10.75% annual rate, 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: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting July 12, 2024 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $140.52 for health care, 1,950.964 for Russell, $50.39 for banking ETF
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| Coupon barriers: | $98.364 for health care, 1,365.6748 for Russell, $35.273 for banking ETF, 70% of initial levels
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| Trigger levels: | $84.312 for health care, 1,170.5784 for Russell, $30.234 for banking ETF, 60% 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: | 2.225%
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| Cusip: | 48134TTG9
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