Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.76 million 9% callable contingent interest notes on indexes
Chicago, Feb. 29 – JPMorgan Chase Financial Co. LLC priced $5.76 million of callable contingent interest notes due Jan. 7, 2026 linked to the least performing of the Nasdaq-100 Technology Sector index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a monthly coupon of 9% if all three indexes close above 75% of their initial levels on the related valuation date.
The securities may be called starting May 7 and on any subsequent monthly determination date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus any coupon due. 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 Technology Sector index, the Russell 2000 index and the S&P 500 index
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Amount: | $5,755,000
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Maturity: | Jan. 7, 2026
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Coupon: | 9% annual rate, payable monthly if all three indexes close above coupon barrier levels 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 May 7 and on any subsequent monthly determination date
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Initial levels: | 10,021.72 for tech, 1,962.731 for Russell, 4,958.61 for S&P
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Coupon barrier levels: | 7,516.29 for tech, 1,472.04825 for Russell, 3,718.9575 for S&P; 75% of initial levels
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Downside thresholds: | 7,015.204 for tech, 1,373.9117 for Russell, 3,471.027 for S&P; 70% of initial levels
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Pricing date: | Feb. 2
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Settlement date: | Feb. 7
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Agent: | J.P. Morgan Securities LLC
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Fees: | 2.225%
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Cusip: | 48134T2J2
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