Published on 1/11/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $8.41 million 10.57% autocallable contingent interest notes on ETFs
New York, Jan. 11 – JPMorgan Chase Financial Co. LLC priced $8.41 million of autocallable contingent interest notes due Jan. 8, 2026 linked to the Invesco QQQ Trust, Series 1, SPDR Dow Jones industrial average ETF Trust and iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.57%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting July 5, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date.
At maturity the payout will be par unless the worst performing ETF closes below its 70% 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 Dow Jones industrial average ETF Trust and iShares Russell 2000 ETF
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Amount: | $8,405,000
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Maturity: | Jan. 8, 2026
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Coupon: | 10.57%, paid monthly, if each underlying fund closes at or above its 80% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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Price: | Par
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Payout at maturity: | Par unless the worst performing ETF closes 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 starting July 5, 2024 at par if the price of each underlying fund is greater than or equal to its initial price and on any subsequent quarterly review date
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Initial levels: | $396.75 for Invesco QQQ Trust, Series 1, $374.64 for SPDR Dow Jones industrial average, $193.25 for iShares Russell 2000 ETF
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Trigger levels: | $277.725 for Invesco QQQ Trust, Series 1, $262.248 for SPDR Dow Jones industrial average, $135.275 for iShares Russell 2000 ETF, 70% of initial level
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Coupon barriers: | $317.40 for Invesco QQQ Trust, Series 1, $299.712 for SPDR Dow Jones industrial average, $154.60 for iShares Russell 2000 ETF, 80% of initial levels
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Pricing date: | Jan. 5
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Settlement date: | Jan. 10
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Agent: | J.P. Morgan Securities LLC
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Fees: | 0.4%
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Cusip: | 48134TBH6
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