Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.84 million callable contingent interest notes on indexes, ETF
New York, April 19 – JPMorgan Chase Financial Co. LLC priced $5.84 million of callable contingent interest notes due April 14, 2027 linked to the Nasdaq-100 Technology Sector index, the S&P 500 index and the Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.55%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting April 14, 2025.
If the worst performing asset finishes at or above its 70% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from initial 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: | Nasdaq-100 Technology Sector index, S&P 500 index and Technology Select Sector SPDR Fund
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| Amount: | $5,842,000
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| Maturity: | April 14, 2027
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| Coupon: | 10.55%, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly 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; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly review date starting April 14, 2025
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| Initial levels: | 10,400.32 for Nasdaq-100 Technology Sector, 5,209.91 for S&P 500, $207.25 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 7,280.224 for Nasdaq-100 Technology Sector, 3,646.937 for S&P 500, $145.075 for Technology Select Sector SPDR Fund, 70% of initial levels
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| Coupon barriers: | 8,320.256 for Nasdaq-100 Technology Sector, 4,167.928 for S&P 500, $165.80 for Technology Select Sector SPDR Fund, 80% of initial levels
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| Pricing date: | April 9
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| Settlement date: | April 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.95%
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| Cusip: | 48134XEQ4
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