Published on 2/22/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.22 million autocallable accelerated barrier notes on MerQube index
New York, Feb. 22 – JPMorgan Chase Financial Co. LLC priced $1.22 million of 0% autocallable accelerated barrier notes due Feb. 20, 2029 linked to the MerQube US Tech+ Vol Advantage index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called automatically with an annualized 31% call premium if the index closes at or above its initial value on Feb. 20, 2025 or Feb. 17, 2026.
If the index gains, the payout at maturity will be par plus 300% of the index return.
Investors will receive par if the index declines but ends at or above its 52.5% barrier and will lose 1% for every 1% that the index declines if it finishes below the barrier level.
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 accelerated barrier notes
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Underlying index: | MerQube US Tech+ Vol Advantage index
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Amount: | $1,219,000
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Maturity: | Feb. 20, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above its initial value, par plus 300% of index return; if index declines but finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that index declines from initial level
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Call: | Automatically with an annualized 31% call premium if the index closes at or above its initial value on Feb. 20, 2025 or Feb. 17, 2026
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Initial level: | 10,415.56
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Upside leverage: | 300%
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Downside threshold: | 5,468.169, 52.5% of initial level
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Pricing date: | Feb. 14
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Settlement date: | Feb. 20
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Agent: | J.P. Morgan Securities LLC
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Fees: | 5%
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Cusip: | 48134TV50
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