Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.11 million callable contingent interest notes on three indexes
New York, March 19 – JPMorgan Chase Financial Co. LLC priced $1.11 million of callable contingent interest notes due March 13, 2028 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting March 13, 2025.
If the worst performing index finishes at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,105,000
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Maturity: | March 13, 2028
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Coupon: | 7%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
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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; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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Call option: | At par on any monthly review date starting March 13, 2025
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Initial levels: | 18,018.45 for Nasdaq-100, 2,082.713 for Russell 2000, 5,123.69 for S&P 500
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Downside thresholds: | 10,811.07 for Nasdaq-100, 1,249.6278 for Russell 2000, 3,074.214 for S&P 500, 60% of initial levels
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Coupon barriers: | 14,414.76 for Nasdaq-100, 1,666.1704 for Russell 2000, 4,098.952 for S&P 500, 80% of initial levels
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Pricing date: | March 8
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Settlement date: | March 13
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Agent: | J.P. Morgan Securities LLC
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Fees: | 3.75%
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Cusip: | 48134WYW1
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