Published on 1/16/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.24 million 10.3% autocallable yield notes linked to Russell, S&P
New York, Jan. 16 – JPMorgan Chase Financial Co. LLC priced $2.24 million of autocallable yield notes due April 10, 2025 linked to the Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.3%, paid quarterly.
The securities will be called automatically at par plus the fixed coupon if each index closes at or above its initial level on any quarterly review date starting July 5, 2024.
If the notes have not been called, the payout at maturity will be par unless either index closes below its 75% trigger level on any trading day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its 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: | Autocallable yield notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $2.24 million
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| Maturity: | April 10, 2025
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| Coupon: | 10.3%, paid quarterly
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| Price: | Par
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| Payout at maturity: | Par unless either index closes below its trigger level on any trading day during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
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| Call: | Automatically at par plus the fixed coupon if each index closes at or above its initial level on any quarterly review date starting July 5, 2024
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| Initial levels: | 1,951.142 for Russell 2000, 4,697.24 for S&P 500
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| Trigger levels: | 1,463.3565 for Russell 2000, 3,522.93 for S&P 500, 75% of initial level
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0%
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| Cusip: | 48134TDR2
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