Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $1.89 million uncapped digital barrier notes on Dow, Nasdaq, S&P
By William Gullotti
Buffalo, N.Y., March 19 – JPMorgan Chase Financial Co. LLC priced $1.89 million of 0% uncapped digital barrier notes due Feb. 7, 2029 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 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 the worst performing index’s return and the digital upside return of 55%.
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, 80% of its initial level, the payout will be par.
If the worst performing index finishes below 80% 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, Nasdaq-100 index
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| Amount: | $1,892,000
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| Maturity: | Feb. 7, 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 worst performing index’s return and 55%; 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: | 38,654.42 for Dow, 4,958.61 for S&P, 17,642.73 for Nasdaq
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| Barrier levels: | 30,923.536 for Dow, 3,966.888 for S&P, 14,114.184 for Nasdaq; 80% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 2.5%
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| Cusip: | 48134TRB2
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