Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.78 million uncapped digital accelerated barrier notes on two indexes
By William Gullotti
Buffalo, N.Y., March 19 – JPMorgan Chase Financial Co. LLC priced $1.78 million of 0% uncapped digital accelerated barrier notes due Feb. 28, 2029 linked to the performance of the S&P MidCap 400 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the least performing index finishes at or above its initial level, the payout at maturity will be the greater of par plus 40% and par plus 1.065 times the return of that index.
If the worst performer declines but finishes at or above its 70% barrier level, the payout will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by JPMorgan Chase & Co.
The agent is J.P. Morgan Securities LLC.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Uncapped digital accelerated barrier notes
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| Underlying indexes: | S&P MidCap 400 index, Dow Jones industrial average
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| Amount: | $1,781,000
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| Maturity: | Feb. 28, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performer finishes at or above initial level, the greater of par plus 40% and 1.065 times the return of that index; par if worst performer declines by no more than 30%; otherwise, full exposure to decline of worst performer from initial level
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| Initial levels: | 2,858.02 for S&P MidCap, 39,131.53 for Dow
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| Barrier levels: | 2,000.614 for S&P MidCap, 27,392.071 for Dow; 70% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 48134WHY6
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