Published on 4/4/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $5.05 million uncapped digital barrier notes on Dow, Russell, S&P
By William Gullotti
Buffalo, N.Y., April 4 – JPMorgan Chase Financial Co. LLC priced $5.05 million of 0% uncapped digital barrier notes due March 29, 2029 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.
If the worst performing index finishes at or above its initial level, the payout at maturity will be par plus the greater of that index’s return and the digital upside return of 56%.
If the final level of any index is less than its initial level but the final level of each index is greater than or equal to its barrier level, 70% of its initial level, the payout will be par.
If the worst performing index finishes below 70% of its initial level, the payout will be par plus the return with full exposure to the losses of the worst performer.
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 barrier notes
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index, Russell 2000 index
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| Amount: | $5,049,000
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| Maturity: | March 29, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above initial level, par plus greater of that index’s return and 56%; if final level of any index is less than initial level but final level of each index is greater than or equal to barrier level, par; if worst performer finishes below barrier level, full exposure to decline of worst performer
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| Initial levels: | 39,313.64 for Dow, 2,074.163 for Russell, 5,218.19 for S&P
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| Barrier levels: | 27,519.548 for Dow, 1,451.9141 for Russell, 3,652.733 for S&P; 70% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 28
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3.5%
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| Cusip: | 48134W3S4
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