Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $262,000 6.5% callable contingent interest notes on Nasdaq, S&P
Chicago, Feb. 13 – JPMorgan Chase Financial Co. LLC priced $262,000 of callable contingent interest notes due Oct. 2, 2025 linked to the lesser performing of the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a monthly coupon of 6.5% if both indexes close above their 70% interest barriers on the related observation date.
The securities may be called at par starting April 3, 2024 and on any subsequent monthly review date.
If the worst performing index gains or ends above its 56% downside threshold the payout at maturity will be par plus the 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.
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 and S&P 500 index
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Amount: | $262,000
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Maturity: | Oct. 2, 2025
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Coupon: | 6.5% annual rate, payable monthly if both indexes close above interest barriers on related 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; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Call: | At par starting April 3, 2024 and on any subsequent monthly review date
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Initial levels: | 16,898.47 for Nasdaq, 4,783.35 for S&P
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Interest barriers: | 11,828.929 for Nasdaq, 3,348.345 for S&P, 70% of initial levels
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Downside thresholds: | 9,463.1432 for Nasdaq, 2,678.676 for S&P, 56% of initial levels
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Pricing date: | Dec. 28, 2023
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Settlement date: | Jan. 3, 2024
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.65%
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Cusip: | 48134RR26
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