Published on 1/29/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.73 million autocallable contingent interest notes on MerQube index
New York, Jan. 29 – JPMorgan Chase Financial Co. LLC priced $1.73 million of autocallable contingent interest notes due Jan. 24, 2029 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid monthly, if the underlying index 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 at par if the closing level of the index is greater than or equal to its initial level on any monthly review date starting Jan. 21, 2025.
At maturity, the payout will be par unless the index declines by more than 30%, in which case investors will lose 1% for every 1% of index decline beyond 30%.
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 index: | MerQube US Tech+ Vol Advantage index
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| Amount: | $1,731,000
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| Maturity: | Jan. 24, 2029
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| Coupon: | 9.5%, paid monthly, if the underlying index 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 index declines by more than its buffer, in which case investors will be exposed to the decline in the index beyond the buffer
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| Call: | Automatically at par if the closing level of the index is greater than or equal to its initial level on any monthly review date starting Jan. 21, 2025
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| Initial level: | 9,981.54
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| Coupon barrier: | 7,985.232, 80% of initial level
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| Buffer: | 30%
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| Buffer level: | 6,987.078, 70% of initial level
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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: | 4%
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| Cusip: | 48134TZR8
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