Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $19.53 million 12.65% contingent income callable notes on indexes
New York, Feb. 13 – JPMorgan Chase Financial Co. LLC priced $19.53 million of contingent income callable securities due Feb. 12, 2026 linked to the Nikkei 225 index, 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 12.65% if each underlying index closes at or above its 75% downside threshold every day that quarter.
The securities may be called starting May 8 at par on any quarterly call determination date.
If the worst performing index gains or ends above its 75% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent. Morgan Stanley will act as distributor.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Contingent income callable securities
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| Underlying indexes: | Nikkei 225 index, Russell 2000 index and S&P 500 index
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| Amount: | $19,526,000
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| Maturity: | Feb. 12, 2026
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| Coupon: | 12.65% if each underlying index closes at or above its 75% downside threshold every day that quarter
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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; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Call: | Starting May 8 at par on any quarterly call determination date
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| Initial levels: | 36,863.28 for Nikkei 225, 1,979.699 for Russell 2000, 4,997.91 for S&P 500
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| Downside thresholds: | 27,647.46 for Nikkei 225, 1,484.77425 for Russell 2000, 3,748.4325 for S&P 500, 75% of initial level
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| Pricing date: | Feb. 8
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| Settlement date: | Feb. 14
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| Agent: | J.P. Morgan Securities LLC
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| Distributor: | Morgan Stanley
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| Fees: | 2%
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| Cusip: | 48134TS54
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