Published on 1/24/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan sells $4.82 million contingent market-linked autocalls on three indexes
By William Gullotti
Buffalo, N.Y., Jan. 24 – JPMorgan Chase Financial Co. LLC priced $4.82 million of 0% market-linked securities – autocallable with contingent downside due Jan. 24, 2028 linked to the performance of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by JPMorgan Chase & Co.
The notes will be automatically called at par plus 11.05% per year if each index closes at or above initial levels on any quarterly observation date after one year.
If the notes are not called and each index finishes at or above its 70% threshold level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performer’s final level is less than its initial level.
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | JPMorgan Chase Financial Co. LLC
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| Guarantor: | JPMorgan Chase & Co.
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| Issue: | Market-linked securities – autocallable with contingent downside
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index, Dow Jones industrial average
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| Amount: | $4,815,000
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| Maturity: | Jan. 24, 2028
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| Coupon: | 0%
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| Level: | Par
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| Payout at maturity: | Par if each index finishes at or above threshold level; otherwise, full exposure to decline of worst performer from initial level
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| Call: | Automatically at par plus 11.05% per year if each index closes at or above initial levels on any quarterly observation date after one year
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| Initial levels: | 1,944.391 for Russell, 17,314.0 for Nasdaq, 37,863.8 for Dow
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| Threshold levels: | 1,361.0737 for Russell, 12,119.8 for Nasdaq, 26,504.66 for Dow; 70% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agents: | J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
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| Fees: | 2.575%
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| Cusip: | 61771WMU9
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