Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $400,000 autocallable contingent interest notes on three stocks
Chicago, April 23 – JPMorgan Chase Financial Co. LLC priced $400,000 of autocallable contingent interest notes due Oct. 30, 2025 linked to the least performing of the common stocks of Advanced Micro Devices, Inc., Meta Platforms, Inc. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 25.35%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier level on the related monthly observation date.
The securities will be called automatically starting after three months at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date.
At maturity the payout will be par unless the worst performing stock closes below its 60% trigger level in which case investors will be fully exposed to the decline of the worst performing stock.
The notes are guaranteed by JPMorgan Chase & Co.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Autocallable contingent interest notes
|
| Underlying stocks: | Advanced Micro Devices, Inc., Meta Platforms, Inc. and Tesla, Inc.
|
| Amount: | $400,000
|
| Maturity: | Oct. 30, 2025
|
| Coupon: | 25.35% annual rate, paid monthly, if each underlying stock closes at or above its 70% coupon barrier level on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock closes below its trigger level in which case investors will be fully exposed to the decline in the worst performing stock
|
| Call: | Automatically starting after three months at par if the price of each underlying stock is greater than or equal to its initial price on a monthly review date
|
| Initial levels: | $180.33 for AMD, $393.18 for Meta, $182.63 for Tesla
|
| Coupon barrier levels: | $126.231 for AMD, $275.226 for Meta, $127.841 for Tesla; 70% of initial levels
|
| Trigger levels: | $108.198 for AMD, $235.908 for Meta, $109.578 for Tesla, 60% of initial levels
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.4%
|
| Cusip: | 48134TE75
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
