Published on 2/28/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $200,000 12.3% callable contingent interest notes on indexes, ETF
Chicago, Feb. 28 – JPMorgan Chase Financial Co. LLC priced $200,000 of callable contingent interest notes due Jan. 26, 2027 linked to the least performing of the Russell 2000 index, S&P 500 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.3%, paid quarterly, if each underlier closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called starting July 22, 2024 at par and on any subsequent quarterly review date.
If the worst performing asset gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Investors will lose 1% for every 1% that the worst performing asset 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 assets: | Russell 2000 index, S&P 500 index and SPDR S&P Regional Banking ETF
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Amount: | $200,000
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Maturity: | Jan. 26, 2027
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Coupon: | 12.3% annual rate, paid quarterly, if each underlier closes at or above its 65% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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Call: | Starting July 22, 2024 at par and on any subsequent quarterly review date
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Initial levels: | 1,913.166 for Russell, 4,739.21 for S&P, $49.33 for banking ETF
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Coupon barriers: | 1,243.5579 for Russell, 3,080.4865 for S&P, $32.0645 for banking ETF, 65% of initial levels
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Downside thresholds: | 1,147.8996 for Russell, 2,843.526 for S&P, $29.598 for banking ETF, 60% of initial levels
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Pricing date: | Jan. 17
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Settlement date: | Jan. 23
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0%
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Cusip: | 48134TVX9
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