Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.71 million callable contingent interest notes on indexes, ETF
New York, April 23 – JPMorgan Chase Financial Co. LLC priced $2.71 million of callable contingent interest notes due Oct. 22, 2026 linked to the MSCI Emerging Markets index, the Russell 2000 index and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.1%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly review date starting Oct. 22, 2024.
If the worst performing asset 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 asset 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 assets: | MSCI Emerging Markets index, Russell 2000 index and VanEck Gold Miners ETF
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| Amount: | $2,712,000
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| Maturity: | Oct. 22, 2026
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| Coupon: | 11.1%, paid quarterly, if each underlier closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any quarterly review date starting Oct. 22, 2024
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| Initial levels: | 1,012.46 for MSCI Emerging Markets, 1,947.947 for Russell 2000, $33.55 for VanEck Gold Miners ETF
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| Downside thresholds: | 607.476 for MSCI Emerging Markets, 1,168.7682 for Russell 2000, $20.13 for VanEck Gold Miners ETF, 60% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1.75%
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| Cusip: | 48134XPE9
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