Published on 1/18/2024 in the Prospect News Structured Products Daily.
New Issue: JPMorgan prices $2.06 million callable contingent interest notes on three tech stocks
New York, Jan. 18 – JPMorgan Chase Financial Co. LLC priced $2.06 million of callable contingent interest notes due April 1, 2025 linked to the common stocks of Amazon.com, Inc., Nvidia Corp. and Oracle Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19.65%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly review date starting July 2, 2024.
If the worst performing stock finishes at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines from its 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 stocks: | Amazon.com, Inc., Nvidia Corp. and Oracle Corp.
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| Amount: | $2,057,000
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| Maturity: | April 1, 2025
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| Coupon: | 19.65%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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| Call option: | At par on any monthly review date starting July 2, 2024
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| Initial levels: | $153.34 for Amazon.com, Inc., $494.17 for Nvidia Corp., $105.94 for Oracle Corp.
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| Downside thresholds: | $92.004 for Amazon.com, Inc., $296.502 for Nvidia Corp., $63.564 for Oracle Corp., 60% of initial levels
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| Coupon barriers: | $107.338 for Amazon.com, Inc., $345.919 for Nvidia Corp., $74.158 for Oracle Corp., 70% of initial levels
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| Pricing date: | Dec. 27
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| Settlement date: | Jan. 2
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 0.725%
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| Cusip: | 48134TDY7
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