Published on 1/12/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $876,000 7.25% autocallable contingent interest notes on index, funds
New York, Jan. 12 – JPMorgan Chase Financial Co. LLC priced $876,000 of autocallable contingent interest notes due Jan. 10, 2029 linked to the Nasdaq-100 Technology Sector index, SPDR S&P 500 ETF Trust and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid quarterly, if each underlier closes at or above its 70% trigger level on the related quarterly observation date.
The securities will be called automatically starting April 7, 2025 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing asset closes below its 70% trigger level in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Nasdaq-100 Technology Sector index, SPDR S&P 500 ETF Trust and Utilities Select Sector SPDR Fund
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| Amount: | $876,000
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| Maturity: | Jan. 10, 2029
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| Coupon: | 7.25%, paid quarterly, if each underlier closes at or above its 70% trigger level on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing asset
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| Call: | Automatically starting April 7, 2025 at par if the level of each underlier is greater than or equal to its initial price and on any subsequent quarterly review date
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| Initial levels: | 9,122.27 for Nasdaq-100 Technology Sector, $467.92 for SPDR S&P 500, $64.53 for Utilities Select Sector SPDR Fund
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| Trigger levels: | 6,385.589 for Nasdaq-100 Technology Sector, $327.544 for SPDR S&P 500, $45.171 for Utilities Select Sector SPDR Fund, 70% of initial level
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 4.125%
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| Cusip: | 48134TBC7
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