Published on 12/21/2023 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $3.76 million callable contingent interest notes on three indexes
By William Gullotti
Buffalo, N.Y., Dec. 21 – JPMorgan Chase Financial Co. LLC sold $3.76 million of callable contingent interest notes due Nov. 20, 2025 linked to the performance of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by JPMorgan Chase & Co.
The notes will pay a contingent monthly coupon at an annual rate of 8.8% if each index closes at or above its interest barrier level, 70% of its initial level, on the review date for that month.
After three months, the notes will be callable at par plus any coupon otherwise due on any monthly call date.
The payout at maturity will be par plus the final coupon unless any index finishes below the 70% trigger value, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
J.P. Morgan Securities LLC is the agent.
| Issuer: | JPMorgan Chase Financial Co. LLC
|
| Guarantor: | JPMorgan Chase & Co.
|
| Issue: | Callable contingent interest notes
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
|
| Amount: | $3,757,000
|
| Maturity: | Nov. 20, 2025
|
| Coupon: | 8.8% annualized, payable monthly if each underlying index closes at or above interest barrier level on review date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless any index finishes below trigger level, in which case 1% loss for each 1% decline of worst performing index from initial level
|
| Call option: | At par plus any coupon due on any monthly call date after three months
|
| Initial levels: | 37,305.16 for Dow, 1,985.127 for Russell, 4,719.19 for S&P
|
| Interest barriers: | 26,113.612 for Dow, 1,389.5889 for Russell, 3,303.433 for S&P; 70% of initial levels
|
| Trigger values: | 26,113.612 for Dow, 1,389.5889 for Russell, 3,303.433 for S&P; 70% of initial levels
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 20
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 0.725%
|
| Cusip: | 48134RQ84
|
|
|
© 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.
