Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.53 million dual directional buffered equity autocallables on indexes
By William Gullotti
Buffalo, N.Y., March 19 – JPMorgan Chase Financial Co. LLC priced $1.53 million of 0% autocallable dual directional buffered equity notes due March 12, 2026 linked to the S&P 500 index, the Nasdaq-100 Technology Sector index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus an 11.6% call premium if each index closes at or above initial level on March 18, 2025.
If each index finishes flat or positive, the payout at maturity will be par plus the gain of the worst performer.
If the worst performing index falls but not beyond the 75% buffer level, the payout will be par plus the absolute value of that index’s return.
Otherwise, investors will lose 1% for each 1% decline of the worst performer below buffer level.
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 dual directional buffered equity notes
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| Underlying indexes: | S&P 500 index, Nasdaq-100 Technology Sector index, Russell 2000 index
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| Amount: | $1,525,000
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| Maturity: | March 12, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes flat or positive, par plus the return of the worst performer; if the worst performer falls but finishes at or above buffer level, par plus the absolute value of return of that index; otherwise, 1% loss for each 1% decline of worst performer below buffer level
|
| Call: | Automatically at par plus an 11.6% call premium if each index closes at or above initial level on March 18, 2025
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| Initial levels: | 5,123.69 for S&P, 10,415.33 for Nasdaq Tech, 2,082.713 for Russell
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| Buffer levels: | 75% 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: | 0.5%
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| Cusip: | 48134W4Y0
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