Published on 1/9/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.18 million 7.5% autocallable yield notes linked to QQQ, SPDR Dow, iShares Russell
New York, Jan. 9 – JPMorgan Chase Financial Co. LLC priced $1.18 million of autocallable yield notes due Dec. 16, 2024 linked to the Invesco QQQ Trust, Series 1, SPDR Dow Jones industrial average ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically starting June 10, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent monthly review date.
Investors will receive a coupon of 7.5%, paid monthly.
If the worst performing ETF ends above its 60% downside threshold the payout at maturity will be par plus the coupon. Otherwise investors will lose 1% for every 1% that the worst performing ETF declines.
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 yield notes
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| Underlying ETFs: | Invesco QQQ Trust, Series 1, SPDR Dow Jones industrial average ETF Trust and iShares Russell 2000 ETF
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| Amount: | $1,175,000
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| Maturity: | Dec. 16, 2024
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| Coupon: | 7.5%, paid monthly
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above its downside threshold level par; otherwise 1% loss for every 1% that worst performing ETF declines
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| Call: | Automatically starting June 10, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent monthly review date
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| Initial levels: | $392.17 for Invesco QQQ Trust, Series 1, $363.12 for SPDR Dow Jones industrial average, $186.80 for iShares Russell 2000 ETF
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| Downside thresholds: | $235.302 for Invesco QQQ Trust, Series 1, $217.872 for SPDR Dow Jones industrial average, $112.08 for iShares Russell 2000 ETF, 60% of initial level
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| Pricing date: | Dec. 8
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| Settlement date: | Dec. 13
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.2%
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| Cusip: | 48134RM70
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