Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $8.14 million 10% callable contingent interest notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 13 – JPMorgan Chase Financial Co. LLC priced $8.14 million of callable contingent interest notes due Jan. 12, 2026 linked to the Russell 2000 index, S&P 500 index and Nasdaq-100 Technology Sector, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlier closes at or above its 75% trigger level on the related monthly observation date.
If the worst performing asset gains or ends above its 60% downside threshold the payout at maturity will be par plus the coupon, if any. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its downside threshold level.
The securities may be called at par on any monthly review date other than the first, second and final review dates.
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 assets: | Russell 2000 index, S&P 500 index and Nasdaq-100 Technology Sector
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| Amount: | $8,137,000
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| Maturity: | Jan. 12, 2026
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| Coupon: | 10%, paid monthly, if each underlier 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: | If worst performing asset finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing asset declines if it finishes below its downside threshold level
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| Call: | At par on any monthly review date other than the first, second and final review dates
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| Initial levels: | 1,950.359 for Russell 2000, 4,995.06 for S&P 500, 10,145.02 for Nasdaq-100 Technology Sector
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| Coupon barriers: | 1,462.76925 for Russell 2000, 3,746.295 for S&P 500, 7,608.765 for Nasdaq-100 Technology Sector, 75% of initial level
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| Downside thresholds: | 1,170.2154 for Russell 2000, 2,997.036 for S&P 500, 6,087.012 for Nasdaq-100 Technology Sector, 60% of initial level
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.71933%
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| Cusip: | 48134WBV8
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