New York, Nov. 16 – JPMorgan Chase Financial Co. LLC priced $1.05 million of callable contingent interest notes due Oct. 16, 2025 linked to the Energy Select Sector SPDR Fund, the Health Care Select Sector SPDR Fund and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.45%, paid monthly, if each underlying fund closes at or above its 60% downside threshold on the related monthly observation date.
The securities may be called at par on any monthly review date starting Nov. 18, 2024.
If the worst performing ETF finishes at or above its 60% downside threshold the payout at maturity will be par plus the coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial 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: | Callable contingent interest notes
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| Underlying ETFs: | Energy Select Sector SPDR Fund, Health Care Select Sector SPDR Fund and Utilities Select Sector SPDR Fund
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| Amount: | $1.05 million
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| Maturity: | Oct. 16, 2025
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| Coupon: | 10.45%, paid monthly, if each underlying fund closes at or above its 60% downside threshold on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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| Call option: | At par on any monthly review date starting Nov. 18, 2024
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| Initial levels: | $84.01 for Energy Select Sector SPDR Fund, $127.00 for Health Care Select Sector SPDR Fund, $59.60 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | $50.406 for Energy Select Sector SPDR Fund, $76.20 for Health Care Select Sector SPDR Fund, $35.76 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 16
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48134RAK4
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