Published on 2/22/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1 million autocallable contingent interest notes linked to three ETFs
New York, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $1 million of autocallable contingent interest notes due Aug. 18, 2025 linked to the Invesco QQQ Trust, Series 1, the SPDR S&P 500 ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.35%, paid monthly, if each underlying fund closes at or above its 75% trigger level on the related monthly observation date.
The securities will be called automatically at par if the worst performing ETF closes at or above its initial level on any monthly review date starting Aug. 13, 2024.
At maturity, the payout will be par unless the worst performing ETF finishes below its 75% trigger level, in which case investors will be fully exposed to the decline of the worst performing ETF.
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 ETFs: | Invesco QQQ Trust, Series 1, SPDR S&P 500 ETF Trust and iShares Russell 2000 ETF
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| Amount: | $1 million
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| Maturity: | Aug. 18, 2025
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| Coupon: | 11.35%, paid monthly, if each underlying fund closes at or above its 75% trigger level on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing ETF finishes below its trigger level, in which case investors will be fully exposed to the decline in the worst performing ETF
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| Call: | Automatically at par if the worst performing ETF closes at or above its initial level on any monthly review date starting Aug. 13, 2024
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| Initial levels: | $428.55 for Invesco QQQ Trust, Series 1, $494.08 for SPDR S&P 500, $194.61 for iShares Russell 2000 ETF
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| Trigger levels: | $321.4125 for Invesco QQQ Trust, Series 1, $370.56 for SPDR S&P 500, $145.9575 for iShares Russell 2000 ETF, 75% of initial levels
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| Strike date: | Feb. 13
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 20
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.3%
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| Cusip: | 48134WJY4
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