Published on 1/25/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.51 million callable contingent interest notes on three indexes
Chicago, Jan. 25 – JPMorgan Chase Financial Co. LLC priced $1.51 million of callable contingent interest notes due July 24, 2025 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.35%, paid monthly, if all three indexes close above the 70% interest barrier on the related observation date.
The securities may be called at par starting after three months and on any subsequent monthly review date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus any coupon due. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Callable contingent interest notes
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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| Amount: | $1,510,000
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| Maturity: | July 24, 2025
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| Coupon: | 8.35% annual rate, payable monthly if all three indexes close above interest barrier on related observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
|
| Call: | At par starting after three months and on any subsequent monthly review date
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| Initial levels: | 37,863.80 for Dow, 1,944.391 for Russell, 4,839.81 for S&P
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| Coupon barrier levels: | 26,504.66 for Dow, 1,361.0737 for Russell, 3,387.867 for S&P; 70% of initial levels
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| Downside thresholds: | 26,504.66 for Dow, 1,361.0737 for Russell, 3,387.867 for S&P; 70% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.69023%
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| Cusip: | 48134TVT8
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