Published on 3/5/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.88 million callable contingent interest notes on ETFs, index
New York, March 5 – JPMorgan Chase Financial Co. LLC priced $2.88 million of callable contingent interest notes due Feb. 11, 2027 linked to the Real Estate Select Sector SPDR Fund, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.5%, paid monthly, if each underlier closes at or above its 70% downside threshold on the related monthly observation date.
The securities may be called at par on any quarterly review date.
If the worst performing asset finishes at or above its 70% downside threshold, the payout at maturity will be par plus the coupon.
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: | Real Estate Select Sector SPDR Fund, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $2,884,000
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| Maturity: | Feb. 11, 2027
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| Coupon: | 14.5%, paid monthly, if each underlier closes at or above its 70% downside threshold 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: | Starting May 9 at par on any quarterly review date
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| Initial levels: | $38.12 for Real Estate Select Sector SPDR Fund, 1,953.628 for Russell 2000, $46.97 for SPDR S&P Regional Banking ETF
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| Downside thresholds: | $26.684 for Real Estate Select Sector SPDR Fund, 1,367.5396 for Russell 2000, $32.879 for SPDR S&P Regional Banking ETF, 70% of initial levels
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 9
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 48134WAV9
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