Published on 4/24/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $500,000 8.4% autocallable contingent interest notes linked to Nasdaq, S&P
By Kiku Steinfeld
Chicago, April 24 – JPMorgan Chase Financial Co. LLC priced $500,000 of autocallable contingent interest notes due May 1, 2025 linked to the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.4% if the worst performing index closes at or above its 70% trigger level on the related valuation date.
The securities will be called automatically starting July 29, 2024 and on any subsequent monthly review date if each index closes above its initial level.
At maturity the payout will be par unless the worst performing index closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing index.
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: | Autocallable contingent interest notes
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| Underlying indexes: | Nasdaq-100 index and S&P 500 index
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| Amount: | $500,000
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| Maturity: | May 1, 2025
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| Coupon: | 8.4% if the worst performing index closes at or above its 70% trigger level on the related valuation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting July 29, 2024 and on any subsequent monthly review date if each index closes above its initial level
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| Initial levels: | 15,464.93 for Nasdaq-100, 4,537.41 for S&P 500
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| Trigger levels: | 10,825.451 for Nasdaq-100, 3,176.187 for S&P 500, 70% of initial level
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| Pricing date: | July 27, 2023
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| Settlement date: | Aug. 1, 2023
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.25%
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| Cusip: | 48133YHM9
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