Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $20 million step-down trigger autocallable notes on indexes
By Wendy Van Sickle
Columbus, Ohio, April 19 – JPMorgan Chase Financial Co. LLC priced $20 million of step-down trigger autocallable notes due April 20, 2029 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par of $10 plus 10.05% per year if each asset closes at or above its initial level on any quarterly observation date after one year, except the final one when the call threshold will be the 70% downside threshold level.
If the notes are not subject to an automatic call, that means the final level of at least one asset will be less than its downside threshold, 70% of its initial level, and investors will be exposed to the decline of the lesser-performing asset from its initial level.
UBS Financial Services Inc. and J.P. Morgan Securities LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, S&P 500 index
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| Amount: | $20 million
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| Maturity: | April 20, 2029
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 10.05% per year if each asset closes at or above its initial level on any quarterly observation date after one year except the final one, when the call level will be the downside threshold
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| Payout at maturity: | Full exposure to decline of lesser-performing asset from initial level
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| Initial levels: | 18,003.49 for Nasdaq, 2,003.174 for Russell, 5,123.41 for S&P
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| Downside thresholds: | 12,602.44 for Nasdaq, 1,402.222 for Russell, 3,586.39 for S&P; 70% of initial levels
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| Pricing date: | April 15
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| Settlement date: | April 22
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| Agents: | UBS Financial Services Inc. and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 48131F529
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